ANNOUNCEMENT
PPC announces that in connection with our earlier announcement Nr. 18590/27.04.05 the offer price submitted to the Privatisation Agency (PA) for the acquisition of a power station located at Bobov Dol in Bulgaria on 27.04.05 was €70.9 million for the entire issued share capital of the company that owns the power station. This consideration was the highest received by the PA as part of the process. The PA is currently evaluating the completeness of the offers received and an official announcement is expected shortly.
Following completion of the above mentioned acquisition and in order to enhance further the position of its new subsidiary in the market and support its development, PPC is planning a capital increase of its subsidiary of approximately €30 million.
Athens, May 9, 2005