Announcement in the Context of Law 3556/2007

It is hereby announced that on May 30th, 2011, PETROVENTURE HOLDINGS LIMITED sold through an Over-The-Counter (OTC) transaction 6,252,481 MOTOR OIL (HELLAS) S.A. shares of total value  € 56,272,329 to DOSON INVESTMENTS COMPANY.

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.

More specifically, the Board of Directors of PETROVENTURE HOLDINGS LIMITED consists of Messrs. Vardis J. Vardinoyannis, John V. Vardinoyannis, Panayotis N. Kontaxis and Petros T. Tzannetakis who are, respectively, Chairman, Executive Vice-Chairman, Non-Executive Vice-Chairman and Executive Member of the BoD of MOTOR OIL (HELLAS) S.A., while DOSON INVESTMENTS COMPANY is closely associated with Mr. Nikos Th. Vardinoyannis, Non-Executive BoD Member of MOTOR OIL HELLAS S.A.

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

Maroussi, June 2nd, 2011