22.06.2006

The Company announces that the First Repeated Ordinary General Meeting of the Shareholders convened on June 22nd, 2006; one shareholder, representing the 60,316% of the share capital, was present, and therefore, there was a quorum for the discussion of all the items of the agenda. During the General Meeting a notary public was also present, pursuant to article 32 paragraph 2 of law 2190/1920. 

The First Repeated Ordinary General Meeting, with a quorum of 60,316% and majority of 100% of the present shareholders decided the following:

Issue 1: approval of share capital increase by the amount of 7.174.335 Euros through capitalization of reserve funds from the following accounts: a) 6.969.662,12 Euros from the account “Difference from the issuance of shares above par” and b) 204.672,88 Euros from the account “Readjustment difference pursuant to article 28 law 3091/2002” through increase of the nominal value of each share from 0,30 Euros to 0,73 Euros;  respective amendment of article 3 of the Articles of Association.
 
Issue 2: the decrease of the number of shares outstanding with unification thereof, so that two old shares of nominal value of 0,73 Euros each are unified in one share; the nominal value of the new share shall be increased respectively to 1,46 Euros and article 3 of the Articles of Association shall be respectively amended. Also, the General Meeting authorized the Board of Directors to proceed to the rounding of the fractional balances eventually arising from the unification of the shares, pursuant to the legislation in effect.
 
Issue 3: the decrease of the nominal value of each share by 1,10 Euros and the consequential decrease of the share capital by 9.176.475 Euros, for the writing-off of the respective amount of loss from the account “Losses carried forward”; the respective amendment of the Articles of Association. Therefore, the share capital after the above decrease shall amount to 3.003.210 Euros divided into eight million three hundred forty two thousand and two hundred fifty (8.342.250) common registered shares of nominal value of 0,36 Euros each.

Issue 4: Codification of the Articles of Association into one unified text.