Announcement in the Context of Law 3556/2007

It is hereby announced that on October 20, 2008, MOTOR OIL HOLDINGS S.A. purchased 8,438 MOTOR OIL (HELLAS) S.A. shares of total value  € 69,070.30. The present announcement is made in the context of article 6, par. 1(b) case (iv) of the Capital Market Commission Decision 3/347/12.7.2005, since the Board of Directors of MOTOR OIL HOLDINGS S.A. consists of Messrs. Vardis J. Vardinoyannis, John V. Vardinoyannis, and Petros T. Tzannetakis, who are, respectively, Chairman, Vice-Chairman and Executive Member of the BoD of MOTOR OIL (HELLAS) S.A. 

In addition, on the same date as above, Mr. Demosthenes N. Vardinoyannis, Non-Executive BoD Member, bought 5,000 Company shares of total value  €41,309.02. 

All the above individuals are obliged to acknowledge their stock exchange transactions on Company shares according to article 13 of Law 3340/2005.

Maroussi, October 21, 2008