Reply to the Athens Exchange letter

In reply to a letter (Ref. No. 26293/18.6.2007) from the Athens Exchange regarding an article in the press about the Kazmurai Gas (KAZ MG) interest to acquire a stake in the share capital of the Company, MOTOR OIL (HELLAS) S.A. hereby announces that anything that has been written by third parties on the above subject constitutes merely assumptions and speculation not related to the Company.

MAROUSSI, JUNE 20TH, 2007