According to article 2 of the Decision 3/347/12.7.2005 of the Hellenic Capital Markets Commission, it is hereby announced that the Board of Directors of the Company during its meeting dated November 28th, 2005 reorganized as a Body Corporate as follows:

Vardis J. Vardinoyannis-Chairman and Managing Director, Executive Member
John V. Vardinoyannis-Vice Chairman, non executive member
Panagiotis Ν. Kontaxis-Vice Chairman, non executive member
John N. Kosmadakis-Deputy Managing Director, Executive member
Petros Τ. Tzannetakis-Deputy Managing Director, Executive member
Nikos Th. Vardinoyannis-non executive member
George P. Alexandridis-non executive member
Abdulhakim A. Al-Gouhi-non executive member
Abdullah Mohammed Al Warthan-non executive member
Ali A. Al Muhareb-non executive member
Constantinos V. Maraveas-non executive / independent member
Leonidas K. Georgopoulos-non executive / independent member

From the above members, messrs John V. Vardinoyannis, N. Th. Vardinoyannis and L. K. Georgopoulos were elected in the places of the resigned non executive members Majid Y. Al-Mugla, Jamal A. Al-Rammah and Ali A. Saleh Al-Ghamdi (independent member).