Announcement of other important matters

In the context of article 2 paragraph 2 ib) of the Decision 3/347/12/7.2005 of the Board of Directors of the Hellenic Capital Market Commission, MOTOR OIL (HELLAS) S.A. hereby announces that the Governmental Privatization Committee approved the sale of the “OLYMPIC AIRWAYS SERVICES S.A.” stake in the share capital of “OLYMPIC FUEL COMPANY (OFC) S.A.”. More specifically, MOTOR OIL Group will acquire 64.06% of the share capital of OFC for a total amount of Euro 6,581,404 as provided for by the initial shareholders’ agreement dated September 15th, 1998. Following the completion of the transaction, the direct and indirect (through the wholly owned subsidiary “AVIN OIL A.V.E.N.E.P.”) MOTOR OIL stake in the share capital of OFC will become 92.06%.

Maroussi, 15 April 2009

The Board of Directors