Investor Relations - 16.05.2006

Establishment of Commission for the study of the Corporation's participation in a holding company

PUBLIC POWER CORPORATION S.A.


ANNOUNCEMENT




Following the company's strategy for expansion, PPC's Board of Directors decided to form a committee consisting of members of the Board of Directors and senior executives. This Committee will prepare a study for the corporation's participation in a holding company, and will negotiate the collaboration terms with the prospective partners.

Acquisitions in the areas of mining, generation, transmission and distribution in Southeastern Europe will be the goal of the new company.

It is estimated that PPC will invest €270M in this new venture during the next 5-7 years.


Athens, May 16, 2006

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