ANNOUNCEMENT
The Board of Directors of PPC S.A. decided today to accept the offer by Weather Investments S.p.A. for the acquisition of PPC's S.A. indirect participation in Tellas S.A. (through the sale of PPC Telecoms S.A. participation in the Dutch company WIND PPC HOLDING N.V.) for one hundred seventy five million euros (€175.000.000).
It also decided the continuation of network rental from PPC to Tellas as well as the continuation of the provision of telecom services from Tellas to PPC.
Athens, July 31, 2007