Investor Relations - 28.12.2007

Clarifications regarding the discussion for cooperation between RWE and PPC (2)

ANNOUNCEMENT

Regarding the discussions between RWE and PPC and following our announcements of December 18 and 20, 2007, PPC would like to clarify that the talks for the signing of a Memorandum of Cooperation concern eventual cooperation in four sectors:

1. The possibility of constructing a coal-fired power plant of a total capacity of 1.600MW.
2. The possibility of acquiring two second hand gas turbines to meet peak demand during the summer season of 2008-2010.
3. The possibility of cooperation in the natural gas sector.
4. The possibility of cooperation in the Renewable Energy Sources sector.

Said proposal does not constitute the selection of a strategic investor, but meets the need of expanding PPC's activities and increasing its revenues.

Athens 28 December 2007
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