Investor Relations - 22.05.2007

Announcement about TELLAS SA

PUBLIC POWER CORPORATION S.A.


                                                                ANNOUNCEMENT

Following the acquisition of TIM Hellas and Q-Telecom by Weather Investments, PPC's partner in TELLAS, we are examining PPC's strategic position in telecoms and particularly in TELLAS. We work with our partners to support the growth of TELLAS and discuss various options going forward.

Athens 22-5-2007

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