Investor Relations - 01.03.2005

Dimitris Maniatakis CEO of PPC S.A.

                                                               ANNOUNCEMENT


The Extraordinary General Meeting of the majority shareholders of Public Power Corporation S.A. called on Tuesday 28 February 2005 elected Mr. Dimitris Maniatakis as the new Managing Director of the company in accordance with the related legislation.
Mr. Maniatakis, Managing Director of ICAP S.A. and member of the Board of Directors of Public Power Corporation S.A., will assume his new duties immediately after the State Owned Enterprises' Committee of the Greek Parliament has issued an opinion in compliance with article 49A of the Parliament Regulation.

Furthermore, to complete the number of the members of the majority, the Greek Public Sector appointed Mr. Rafail Moysis, President of DEPA S.A. and former General manager of Public Power Corporation, to the Board of Directors. Mr. Moysis' election will take place today during the ordinary meeting of the Board of Directors of the company.


In Athens, on 1st March 2005
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