Announcement in the Context of Law 3556/2007

It is hereby announced that on January 16th, 2008, PIRAEUS SECURITIES S.A. purchased 231 MOTOR OIL shares of total value  € 3,243.24 which it sold on the same day at  € 3,252.48. This 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, considering that PIRAEUS SECURITIES S.A. is controlled by PIRAEUS BANK, on the Board of which Mr. Ioannis V. Vardinoyannis is Non-Executive Vice-Chairman and Mr. George Alexandridis Independent, Non-Executive Member. 

Both Mr. Ioannis V. Vardinoyannis and Mr. George Alexandridis are obliged to acknowledge their stock exchange transactions on the Company’s shares according to article 13 of Law 3340/2005, in their capacity as Non-Executive Vice-Chairman and Non-Executive Member, respectively, of the Board of Directors of MOTOR OIL.

Maroussi, January  21st, 2008.