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 30th, 2006, during its meeting dated May 31st, 2006 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 2006. 

MAROUSSI, June 1st, 2006

THE BOARD OF DIRECTORS