Announcement of Shareholder Voting Rights Percentage Change Pursuant to the Law3556/2007

MOTOR OIL (HELLAS) S.A. hereby announces that on June 1st, 2011 its shareholder under the legal name Motor Oil Holdings S.A. notified that it is in possession of 50,387,282 Company shares corresponding to 45.483% of the voting rights of the Company.

The above mentioned percentage refers to the voting rights of the Company controlled by Motor Oil Holdings S.A. both directly (140,443 shares – 0.127% of voting rights) and indirectly through the legal entity PETROVENTURE HOLDINGS LIMITED (50,246,839 shares – 45.356% of voting rights).

According to its previous official notification made in September 2010, Motor Oil Holdings S.A. controlled 52.607% of the voting rights of the Company.

The present announcement is made pursuant to article 9 of the Law 3556/2007 since the percentage variance of the voting rights of the Company controlled by the shareholder under such acknowledgement obligation constitutes a change in excess of 3 percentage units and at the same time the percentage of the voting rights of the Company possessed by the shareholder fell below the 50% threshold.

May 30th, 2011 is the date of the stock exchange transaction which resulted in a voting rights variance change in excess of 3 percentage units and the percentage of voting rights possessed by the shareholder dropped below the 50% threshold. Prior to the critical date, Motor Oil Holdings S.A. directly and indirectly controlled 51.127% of the voting rights of the Company.

Maroussi, June 2nd, 2011