26.06.2008

The BoD of IMAKO MEDIA S.A. during its meeting on 25.06.2008 decided to change the distribution of capital accrued by the increase of the Company’s share capital by paying a total amount of EUR13,774,785.12 in cash. The above increase of the share capital was decided by the 1st Repeat General Shareholders’ Meeting on 30.05.2007, which was approved by decision Κ2-9144/15-6-2007 of the Minister of Development, while the newsletter about the Company capital share increase was approved by the Board of Directors of the Capital Market Commission on 09/08/2007.

More specifically, the BoD decided to change the distribution of capital of the amount of seven hundred fifty thousand two hundred and eighty five euros and twelve eurocents (€750,285.12) provided for, after the change of the raised capital,  as it was decided by the Company's BoD on 16.11.2007 and approved by the Extraordinary General Shareholders' Meeting on 20.12.2007, and that it will distribute it for the development of new publications of magazines or newspapers in Greece and the Balkan countries The Company proceeded with this change because the subsidiary in Rumania will fund its investment program out of own capital, since InStyle magazine is expected to have positive cash flows already in its first year of publication, which in Greece the Group has not programmed in the immediate future the publication of any new titles which would require funding.

Consequently, the Company decided to distribute these funds to cover current needs in working capital and short term obligations, aiming at decreasing the short term bank and other obligations.

Furthermore, the Company announces that the change in the use of the raised funds concerns capital of a total value of less than 20% of the raised capital, and therefore there is no obligation to issue a new newsletter.

Subsequently, the Board of Directors unanimously approved the readjusted Raised Capital Distribution Table.