Investor Relations - 29.12.2011

Mutually agreed termination of Contract of Deputy CEO and Appointment of New Deputy CEO

                                                                ANNOUNCEMENT 



Public Power Corporation announces that, today, on 28.12.2011, the termination of the contract of the Deputy Chief Executive Officer Mr. Apostolos Baratsis with PPC was mutually agreed. On behalf of the Company, Mr. Zervos thanked Mr. Baratsis for the services offered to PPC.

In addition, PPC’s BoD, at its meeting held today, decided the appointment of Mr. Konstantinos Theos in the position of Deputy CEO, responsible for the Mines, the Generation and the Supply General Divisions. The appointment of Mr. Theos will be effective as of 1.1.2012.

The formation of Body of the BoD is as follows:

• Zervos Arthouros, (BoD Chairmain / CEO - Executive Member). Term expires on 15.12.2012.

• Theos Konstantinos, (BoD Vice Chairman - Executive Member). Term expires on 29.06.2013.

• Ekaterinari Ourania (Executive Member). Term expires on 29.06.2013.

• Alexakis Panayiotis (Independent - Non Executive Member, Representative of Minority Shareholders). Τerm expires on 17.12.2012.

• Antoniou Ilias (Independent – Non Executive Member, Representative of the Greek Economic and Social Committee). Term expires on 29.06.2013.

• Vassilogeorgis Charilaos, (Independent – Non Executive Member). Term expires on 29.06.2013.

• Vernikos Nikolaos, (Independent – Non Executive Member). Term expires on 29.06.2013.

• Theoklitos Leonidas, (Independent – Non Executive Member). Term expires on 29.06.2013.

• Karavassilis Ioannis, (Non Executive Member, Representative of Employees). Τerm expires on 1.3.2013.

• Bouzoulas Evangelos, (Non Executive Member, Representative of Employees). Τerm expires on 1.3.2013.

In order for the election of the second representative of the Minority Shareholders, the procedures provided in the Company’s Articles of Incorporation will be followed.


Athens, December 28, 2011
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