The company announces that the Ordinary General Meeting of shareholders has taken place on Friday the 30th.6.2006 at the registered seat of the Municipality of Heraklion of Crete (Foundation for Research and Technology, area Vassilika Voutes) and at 13.00, where the following resolutions on the items of the agenda were discussed and have been taken.
During the whole General Meeting present were sixteen (16) shareholders representing 25.726.668 shares of the total of shares 38.540.682 (percentage 66,75%) with voting right and therefore the required quorum provided for by the Law for taking resolutions on all the items of the agenda was met.

Specifically,
- As per the 1st item on the agenda, the General Meeting approved with 25.726.668 votes for (100% of the present shareholders) the financial statements (company's and consolidated) of the Financial Year 1/1/2005 till 31/12/2005 accompanied by the reports of the Board of Directors and Chartered Auditors of the company concerning the actions of the financial year 2005 and resolved not to distribute dividends.
- As per the 2nd item on the agenda, the General Meeting released with 25.726.668 votes (100% of the present shareholders) the Members of the Board of Directors and the Chartered Auditors of any liability to indemnity on the Financial Statements and Administration of the financial year 2005 (1/1/2005 till 31/12/2005).
- As per the 3rd item on the agenda, the General Meeting with 25.726.668 votes for (100% of the present shareholders) approved the financial statements (transformation balance sheet) of the absorbed company Mediterranean Broadband Access S.A. of the Financial Year 1/1/2005 till 31/12/2005 accompanied by reports of the Board of Directors and Auditors.
- As per the 4th item on the agenda, the General Meeting released with 25.726.668 votes for (100% of the present shareholders) the Members of the Board of Directors and the Chartered Auditors of the absorbed company Mediterranean Broadband Access S.A. of any liability to indemnity on the Financial Statements and Administration of the financial year 2005 (1/1/2005 till 31/12/2005).
- As per the 5th item on the agenda, the General Meeting with 25.726.668 votes for (100% of the present shareholders) elected the auditing companies "Certified Auditors Accountants A.E.O.E." and "Ernst & Young (Hellas) Chartered Accountants A.E." in order to undertake jointly the ordinary audit of the financial statements (company's and consolidated) of the financial year 2006, and approved their remuneration.
- As per the 6th item on the agenda, the General Meeting with 25.726.668 votes for (100% of the present shareholders) approved the compensation of the Members of the Board of Directors for the year 2005 which amounted to 78.300 euro and determined for the current year 2006 as compensation of the Members of the Board of Directors the monthly amount of 1.400 euro.
- As per the 7th on the agenda, the General Meeting with 25.726.668 votes for (100% of the present shareholders) approved the remuneration and any kind of emoluments of the Executives and the Managing Director of the company for the financial year 2005 and authorized the Board of Directors to form a remuneration benefit system (fixed and variable) aiming at the company's competitiveness in the offering of employment.
- The 8th and 9th items on the agenda, the General Meeting with 25.726.668 votes for (100% of the present shareholders) decided to examine jointly because of their relation. The General Meeting examined the Stock Option Plan on the basis of the provisions of article 13, par. 9 of the C.L. 2190/1920 which was established by a relevant decision of the Extraordinary General Meeting of the company's Shareholders on the 17.3.2006, given that on one hand, the company's share capital increase has been completed w ith its complete coverage and certification of its payment and on the other hand, the Plan has to be adjusted to the developments that took place and led to the adjustment of the share price. In particular, the General Meeting with 25.726.668 for (100% of the present shareholders) repeated the Plan, amending it as follows: It decided to grant 2.800.000 stock option rights with beneficiaries a) the members of the Board of Directors, the Director's team and in particular the General Directors, the Directors of departments, the Heads of Departments and/or projects of FORTHnet and its subsidiaries, b) other executives of the company and its "subsidiaries at the Board of Directors" discretion. The above mentioned persons become Beneficiary provided that at the time of the granting of the Rights they will have served the company in their above capacity and achieve the corporate and individual goals that the Board of Directors set by virtue of its decisions and the Regulation that it is authorized to compose. The exercise price has been determined at 5,36 euro per share and in case a company action were to occur, which results in the adjustment of the share price, the exercise price within the framework of the stock option plan is adjusted accordingly. The duration of the Plan is seven years (2006-2012) and the Board of Directors is authorized to implement the Plan, to determine the details of the Plan's implementation, and to proceed in whatever is required by Law for it's implementation.
- As per the 10th item on the agenda, the General Meeting with 25.726.668 votes for (100% of the present shareholders) approved the extension of the service provision agreement (administrative, financial, legal) between FORTHnet and its' subsidiary FORTH-CRS until the 30.12.2006.
- As per the 11th item on the agenda, the General Meeting was informed that, no own-shares purchase took place on the basis of the relevant decision of the Ordinary General Meeting of Shareholders of 30th.6.2005 and approved with 25.726.668 votes for (100% of the present shareholders) the purchase of up to 2.000.000 own shares, at a minimum price of 0,30 euro and a maximum price of 20 euro. The total duration of purchase of own shares is set to twelve months while the Board of Directors was authorized to determine with its decision the partial periods of purchases.
- As per the 12th item on the agenda, the General Meeting with 25.726.668 for (100% of the present shareholders) approved the granting of permission, according to article 23, par. 1 of the K.N. 2190/1920, to members of the Board of Directors and to Managerial Executives, to participate in Board of Directors or in the Management of Companies that aim at similar or resembling objectives in Greece or Abroad.