GEK TERNA S.A.

Announcement

The tax audit concerning the company GENERAL CONSTRUCTION COMPANY S.A. has been completed, for the unaudited (fiscal) years 2000, 2001, 2002, 2003 and for the period from 1/1/2004 until 31/3/2004, date on which the Transformation Balance Sheet for the merger by absorption of the above company by our Company was issued. The merger was completed by virtue of Decision K2-13956 dated 3rd of December of 2004 of the Minister of Development. The tax audit resulted differences amounting to 590.196 Euro that will be paid within 2006 by our company as successor of GENERAL CONSTRUCTION COMPANY S.A..