Organization of the new Board of Directors as a Body Corporate

According to article 2 of the Decision 3/347/12.7.2005 of the Hellenic Capital Markets Commission, it is hereby announced that the Board of Directors of the Company, which was elected by the Annual Ordinary General Assembly of Company Shareholders of May 29th, 2008, during its meeting dated June 2nd, 2008 organized as a Body Corporate as follows:

Vardis J. Vardinoyannis – Chairman and Managing Director, Executive Member
John V. Vardinoyannis – Vice Chairman, non executive member
Panagiotis Ν. Kontaxis – Vice Chairman, non executive member
John N. Kosmadakis – Deputy Managing Director, Executive member
Petros Τ. Tzannetakis – Deputy Managing Director, Executive member
Demosthenes N. Vardinoyannis – non executive member
Nikos Th. Vardinoyannis – non executive member
George P. Alexandridis – non executive member
George Th. Theodoroulakis – non executive member
Despina N. Manolis – non executive member
Konstantinos V. Maraveas – non executive / independent member
Antonios H. Theoharis – non executive / independent member

The term of the new Board of Directors expires on the next Annual Ordinary General Assembly of Company shareholders which will approve the Financial Statements for the year 2008.

MAROUSSI, June 2nd, 2008

THE BOARD OF DIRECTORS