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