Clarification Announcement regarding DOSON INVESTMENTS COMPANY

Following an update received on June 6th, 2011 from its shareholder under the legal name DOSON INVESTMENTS COMPANY (holder of 9,726,171 Company shares corresponding to 8.78% of the voting rights), MOTOR OIL (HELLAS) S.A. hereby announces that Messrs Nikos and John Th. Vardinoyannis participate jointly in the share capital of the entity under notification obligation with a stake of 50% each. Therefore, DOSON INVESTMENTS COMPANY can not be regarded a controlled entity pursuant to the definitions of article 3 of the Law 3556/2007.

Maroussi, June 8th, 2011