Organization of the new Board of Directors as a Body Corporate

According to article 4 of the Decision 5/204/14.11.2000 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 31.5.2005, during its meeting dated June 2nd, 2005 organised as a Body Corporate as follows: 

Vardis J. Vardinoyannis  – Chairman, Executive Member 

Abdulhakim A. Al-Gouhi – Vice Chairman, Managing Director Executive Member 

Panagiotis Ν. Kontaxis – Vice Chairman, non executive member 

George P. Alexandridis – non executive member 

John N. Kosmadakis – Executive Member 

Petros Τ. Tzannetakis – Executive Member 

Constantinos V. Maraveas – non executive /independent member 

Majid Y. Al–Mugla – non executive member 

Jamal A. Al–Rammah – non executive member 

Ali A. Al Muhareb – non executive member

Abdullah Mohammed Al Warthan – Executive Member 

Ali A. Saleh Al–Ghamdi – 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 2005. 

MAROUSSI, JUNE 2, 2005

THE BOARD OF DIRECTORS