MOTOR OIL (HELLAS) CORINTH REFINERIES S.A announces that the Annual Ordinary General Meeting of Company Shareholders of June 1st, 2004 approved the acquisition of own shares according to article 16 par. 5 of the C.L 2190/1920. The maximum number of own shares which is possible to be acquired equals 1,107,800 representing 1% of the total issued and outstanding shares of the Company. The minimum and the maximum purchase price per share was set at ? 5.00 and ? 10.30 respectively. The purchases will be effected within 12 months from the date of the decision of the above mentioned Annual Ordinary General Meeting of Company Shareholders.