The company General Commercial & Industrial Co. S.A. announced today that its Extraordinary Shareholders' General Meeting, which convened on 4/11/2005 approved unanimously the following resolutions:

1. The issue, according to the provisions of L.3156/03 and Codified Law 2190/1920, of a 15-year common bond loan, amounting up to EUR 15,000,000, in order to pay off the short-term liabilities of the company as well as to refinance its loans. In addition, the EGM authorized the BoD of the company to decide as to which banks will participate in the bond loan, negotiate and agree on the specific terms of the bond loan, sign the relevant agreements with the most beneficial terms for the company, appoint the representatives that will sign the aforesaid agreements as well as any other document required for the issue of the loan in question.

2. The maximum amount of the salary of Mr.Konstantinos Kremidas, executive of the company and also executive BoD Member for the period 4.11.2005-30.06.2006.