Investor Relations - 08.02.2011

BoD approves 2011 Budget

                                                           ANNOUNCEMENT


PPC S.A. announces that the Board of Directors approved the budget of the Group for 2011. The budget is based on assumptions for Brent oil at $96/bbl and a €/$ exchange rate of 1.25, while the key financials are estimated to be as follows:

Revenues from energy sales :  € 5.1 bln.
Total Revenues :   € 5.8 bln.
EBITDA Margin :   ~24%


It is noted that Group results are impacted, among other, by fluctuations in €/$ exchange rate, oil, natural gas and electricity prices as well as the price of CO2 emission rights, which could cause deviations from the budgeted figures.


Athens, February 7, 2011

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