Investor Relations - 28.05.2004

Free share distribution of PPC S.A. to 20,737 shareholders

PUBLIC POWER CORPORATION S.A.



                                                             ANNOUNCEMENT
                                                           (No/Date: 3/25-05-2004)


                                           Free share distribution to 20,737 shareholders


Public Power Corporation S.A. (PPC) is to distribute shares free of charge to 20,737 shareholders who held for six months the shares they obtained through the October 2003 public offer, by decision of the Minister of Finance and the Economy.
The distribution is to be on a ratio of one free share for every ten shares, and up to a limit of 200 free shares per individual non-institutional investor who held their PPC shares obtained through the October 2003 public offer until 30 April 2004, marking the completion of a stock trading period of six months for the particular shares. The total amount of shares to be distributed is 637,488 pieces, of a total of 232,000,000 PPC shares. The Hellenic State will transfer the shares to beneficiaries over the counter on 28 May 2004.
 
Athens, 25-5-2004

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