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Agreement between PPC S.A. and Halyvourgiki

Agreement between PPC S.A. and Halyvourgiki


ANNOUNCEMENT
PPC announces that, further to the relevant decisions by its Board of Directors, regarding the formation of a joint venture with Halyvourgiki S.A., which will undertake the construction and operation of two CCGT units with a total capacity of 880MW, in a plot of land within the facilities of Halyvourgiki, the two parties signed the Shareholders' Agreement on 12.02.09 and agreed on the draft of the Articles of Association. Halyvourgiki S.A. will own 51% of the share capital of the joint venture and PPC will own 49%. The initial share capital will amount to €10,000,000, of which €4,900,000 will be contributed by PPC. The Shareholders' Agreement and the draft Articles of Association will be submitted for approval to the National Competition Authority.

Athens, 12-2-2009

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