MOTOR OIL (HELLAS) CORINTH REFINERIES SA

Start date of payment of dividend remainder is 18.6.2004

It is announced to the Company Shareholders that the first day of payment of the dividend remainder for the fiscal year 2003, amounting to euros 0.30 per share, is Friday June 18th, 2004. Shareholders entitled to the remainder of dividend for fiscal year 2003 are the owners of the shares of the Company at the closing of the trading day of the Athens Stock Exchange of June 1, 2004 according to the clearing of the Central Securities Depository S.A.

The payment will be effected by the means of crossed bankers` drafts made payable to the shareholders mailed to their address.

For the collection of the dividend it is necessary that shareholders present to the Bank both the bankers` drafts and their Identification Card. In case bankers` drafts are lost or undelivered shareholders can contact the Headquarters of the Company (tel: 210 80 94 042, Shareholders` Department). Dividends which will not be collected within 5 years are written off in favor of the Hellenic State.