A contract valued approximately 5 mio. euros was signed on 2nd of October 2003 between the Hellenic Aerospace Industry (EAB) and Petros Petropoulos AEBE for the supply of generating sets for Phase B of the the Armed Forces, Hermes Project.

The generating sets are designed and manufactured by Petros Petropoulos AEBE to high specifications, including EMP (electromagnetic pulse protection).

Petros Petropoulos AEBE haw manufactured in the past similar generating sets, which are operating successfully in Phase A of the Hermes Project.

This activity will affect positively the 2004 financial statements of the Company.

The Company was established in Thessaloniki in 1922. It manufactures, modifies,distributes and supports a wide range of automotive products including automobiles, trucks, buses, generating sets, diesel engines, boats, outboard engines, agricultural and industrial equipment. The Company has a leading position in the Greek market in each branch of its activity.