Announcement in the context of PD 51/1992

According to the article 282 paragraph 1 of the Regulation of the Athens Exchanges, MOTOR OIL (HELLAS) S.A announces that on March 23rd, 2006 its shareholder under the legal name Petroshares Limited sold 6,500,000 shares and as a result its direct stake in the Company from 16.4% decreased to 10.54%. At the same time the indirect stake of Motor Oil Holdings S.A (the legal entity which controls Petroshares Limited) from 67.4% decreased to 61.54%.

Maroussi, March 24th, 2006