Outcome of the statutory Tax Audit for the fiscal years 2000 and 2001

In the context of the Regulation of the Athens Stock Exchange (article 275, par. 9d), MOTOR OIL (HELLAS) S.A hereby announces the completion of the statutory tax audit for the fiscal years 2000 and 2001. According to the tax audit outcome the aggregate liability of the Company amounts to Euro 4,753 thousand (of which an amount of Euro 2,358 thousand concerns tax relating to accounting differences and an amount of Euro 2,395 thousand concerns surcharges) and will be charged against the earnings of the fiscal year 2006.

MAROUSSI, NOVEMBER 27th, 2006

THE BOARD OF DIRECTORS