The company with the name METAL INDUSTRY OF ARCADIA C. ROKAS S.A. and with the distinctive title C. ROKAS S.A. and the company with the name DELTA MACHINERY EQUIPMENT TURN KEY PROJECT S.A. and with the distinctive title DELTA PROJECT S.A., signed today, on the 20th of December 2005, a Memorandum of Understanding which provides: (a) the acquisition of a majority participation stake in DELTA ENERGEIAKI S.A. (which is a 90% subsidiary of DELTA PROJECT S.A.) and (b) the broader cooperation of the two companies C.ROKAS S.A and DELTA PROJECT S.A. in the field of the energy market and especially in the field of development, construction and exploitation of renewable energy sources projects. The Memorandum of Understanding is subject to the approval of the Board of Directors of the two companies, to the conduct of the necessary financial and legal due diligence and to the successful outcome of the relevant negotiations for the execution of the final agreements. The companies shall announce additional information regarding the intended cooperation upon the execution of the final agreements, which will be subject to the issuance of the regulatory approvals and permits provided by law.