Press Release - 09.01.2008

Draft MoU between the Halyvourgiki S.A. and PPC S.A

ANNOUNCEMENT

The management of Halyvourgiki S.A. and Public Power Corporation S.A have decided to propose to their BoDs the approval of a draft MoU for the construction and operation of an 880MW natural-gas fired electricity generation unit.
The unit is planned to be installed on a site owned by Halyvourgiki. The draft MoU envisages, the creation of a separate legal entity in the form of as societe anonyme, which will manage the project. Halyvourgiki will own 51% of the new entity and PPC 49%.

Athens 9-1-2008
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