According to the provisions of article 4 par. 1 point (e) of the Capital Market Commission's Board of Directors Regulation 5/204/14.11.2000 and the provisions of 3/347/12.7.2005 decision of the Capital Markets Commission, the Company announces that:

The Board of Directors of ELBISCO HOLDING S.A. in its meeting on 31st of March 2006 accepted the resignation of Mr. Dimitrios Roussos, Managing Director of the Board and General Manager of ELBISCO HOLDING S.A. as well as Managing Director of ELBISCO INDUSTRIAL AND COMMERCIAL S.A., due to his retirement. In replacement of the resigned Member of the Board, the meeting has consistently decided on the appointment of Mr. Athanasios - Kiros K. Filippou as an Executive Member of the BoD and for the rest of the duty of this Board.

Additionally, the new BoD was composed as a body by the resolutions of the Board of Directors, and is as follows:
Kiriakos A. Filippou, Chairman of the Board of Directors.
Elena K. Filippou - Koumantarou, Vice Chairman of the B.o.D.
Athanasios - Kiros K. Filippou, Executive Member.
Alexandros D. Moutsatsos, Independent - Non Executive Member.
Eygenia E. Alogogianni, Independent - Non Executive Member.

The duties of Managing Director of ELBISCO HOLDING S.A. have also been assumed by Mr. Kiriakos A. Filippou, Chairman of the Board.

Finally, new Managing Director of ELBISCO INDUSTRIAL AND COMMERCIAL S.A. was appointed Mr. Dimosthenis Ramantanis, current Chairman and General Manager of ΖΙΤΟ LUKS S.A. (FYROM), for which he will continue to be also in charge.