Athens, November 26th, 2008

Announcement according to the decision of the BoD dated 24.11.08

Ôhe BoD of the company “I. KLOUKINAS-I. LAPPAS CONSTRUCTION & COMMERCIAL COMPANY SOCIETE ANONYME” on 24/11/2008 decided the reorganisation of the Financial Department of the listed company due to the separation of the construction sector and its contribution to “IOANNIS KLOUKINAS- IOANNIS LAPPAS CONSTRUCTION COMPANY SOCIETE ANONYME” .The position of the CFO was assigned to Mrs Benetatou graduated from Athens University of Economics and Business and the position of the Chief Accountant of the company was assigned to Mrs Tirasky graduated from University of Piraeus.

According to the provisions of the Law 3016/2002, the BoD of the company appointed Mr Palmos, graduated from Athens University of Economics and Business, for the position of internal auditor in replacement of Mr Kalinossis.