Investor Relations - 19.05.2005

Replacement of old generation units

                                              REPLACEMENT OF OLD GENERATION UNITS

Through Law 3175/03, PPC has been granted an electricity generation license to refurbish or replace existing old capacity of 1,600 MW.

According to decision No 114/17.05.05 of the Board of Directors, PPC/s competent departments will thoroughly study the techno-economic issues, the construction time schedule and the necessary works for the development of the Electricity Transmission System and the Natural Gas Transmission System for all candidate new generation units, in preparation of final decisions.

In addition to the new natural gas combined cycle unit at Aliveri, the following are considered as candidate new units:
1. Lignite unit in Western Macedonia (Ptolemaida or Florina).
2. Natural gas combined cycle unit at Megalopoli.
3. Natural gas combined cycle unit at either Aliveri or Megalopoli or Keratsini.



                                                                                                       Athens 5.19.2005
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