Investor Relations - 13.11.2007

Denial of a report

ANNOUNCEMENT

PPC S.A. denies a report according to which PPC intends to award RWE with a majority stake in 2000MW of PPC generation plant replacement program.

The report refers to a proposal made by RWE for the provision of consulting services (owner's engineer) for the tendering process of the new generation plants replacement program. Such a proposal obviously and under no circumstances does it alters the ownership status of our generation plants, which will remain under the full, 100%, ownership of PPC.

Athens, November 13, 2007