Investor Relations - 13.10.2010

BoD approval regarding Distribution activities

                                                  ANNOUNCEMENT

The Board of Directors of PPC S.A., during its meeting held on October 12, 2010, approved that all the Electricity Distribution activities, i.e. the network operation and the supply of network services throughout the country, as well as the activities of the Non-Interconnected Islands network operator, are transferred to a 100% subsidiary of PPC S.A. The Board of Directors also approved the transfer to the subsidiary of the respective assets and liabilities of PPC S.A., which belong to these activities, with the exception of the fixed assets of the distribution network, the land, buildings and installations of the Distribution Division, which will remain in the ownership of the parent company PPC S.A.

The Board of Directors, with a following decision, will formulate a detailed proposal to be submitted for approval to the General Assembly of Shareholders which will be convened in due course for this purpose.

Athens, 12.10.2010
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