Press Release - 13.03.2012

Comment on Press articles referring to the financing of the construction of Ptolemais V


                                                             PRESS RELEASE

In relation to recent press articles referring to the financing of the construction of “Ptolemais V” Lignite Unit, PPC clarifies that the BoD was informed yesterday about discussions and progress in relation to the potential funding structure of the project, including progress from the meetings held up to date with the Export Credit Agency (ECA) of Germany, Euler-Hermes.

For the ECA covered loan, KfW IPEX-Bank GmbH has the role of the financial advisor and arranger, currently supporting the company in relation to its contacts and discussions with Euler-Hermes for the purpose of obtaining approval on the insurance cover for the respective loan (expected to be syndicated).

The provision of the insurance cover, which is a prerequisite for the arrangement of the syndicated loan, is being examined but no approval has been granted yet.

Athens, March 13th, 2012

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