Press Release - 03.08.2009

Rejected the Bid submitted for the acquisition of shares in EPCG by the Consortium PPC S.A. - Golden Energy Capital Management S.A.


PPC announces that, in relation to the tender procedure for the acquisition of shares in Elektroprivreda Crne Gore AD Nikšić (EPCG), it received on July 31st, 2009, an official announcement by the competent Tender Commission of the State of Montenegro, informing us that at the session held as of 30th July 2009, the Tender Commission evaluated the bids submitted by the Qualified Bidders and that the Bid submitted by the Consortium Public Power Corporation S.A. -Golden Energy Capital Management S.A has been rejected/refused. Following the contemplated process the Tender Commission will submit its resolution to the Privatization Council of the Government of Montenegro, which will consider it in producing its verdict on behalf of the Government.

Athens, Aug 3, 2009
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