Investor Relations - 07.07.2003

Distribution of shares free of charge to 10,529 shareholders gets underway

POWER CORPORATION S.A.


Further to previous announcement regarding free shares of PPC S.A
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Distribution of shares free of charge to 10,529 shareholders gets underway

Public Power Corporation S.A. (PPC) is to distribute shares free of charge to 10,529 shareholders who held for six (6) months the shares they obtained through the December 2002 public offer.

The ratio of free shares distribution is one share for each ten shares, and up to a limit of 200 shares per individual non-institutional investor who held their PPC shares obtained through the 2002 public offer until June 11, 2003, marking the completion of a stock trading period of six months. The total amount of shares to be distributed is 442,617 pieces, of a total 232,000,000 PPC shares. The Hellenic Republic will distribute the shares to beneficiaries over the counter on July 10, 2003.



ATHENS, July 7, 2003

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