Announcement in the Context of Law 3556/2007

It is hereby announced that on October 8, 2008, MOTOR OIL HOLDINGS S.A. purchased 3,269 MOTOR OIL shares of total value  € 27,388.84. The present announcement is made in the context of article 6, par. 1(b) case (iv) of the Capital Market Commission Decision 3/347/12.7.2005, since the Board of Directors of MOTOR OIL HOLDINGS S.A. consists of Messrs. Vardis J. Vardinoyannis, John V. Vardinoyannis, and Petros T. Tzannetakis. 

In addition, on the same date as above, Mr. Demosthenes N. Vardinoyannis, Non-Executive BoD Member, bought 5,000 Company shares of total value  € 43,740. 

All the above individuals are obliged to acknowledge their stock exchange transactions on Company shares according to article 13 of Law 3340/2005.

Maroussi, October 9, 2008