A. WITH REGARD TO "THESSALONIKI METRO" PROJECT
1. Thessaloniki Metro contract is currently being executed smoothly and without any problems.
The scope of this contract that AEGEK – IMPREGILO – ANSALDO TSF – SELI – ANSALDOBREDA Joint Venture executed in April 2006 refers both to the elaboration and gradual submission of the project various designs and to the execution of works, based on the designs to be approved by the Project Owner.
Already, within the project time-schedule:
- The worksite installations in all the stations where areas have been granted by ATTIKO METRO S.A. (New Railway Station, Dimokratia, Venizelos, Ag. Sofia) have been completed since 31.10.2006.
- Almost 300 investigating sections have been completed for the detection of any public utility organization networks and archaeological findings.
- The geological investigations have been completed (28.02.2007) for the overall project through the conduction of 200 new boreholing and hundreds of laboratory tests.
- There are P.U.O. networks' relocations in progress in New Railway Station, Venizelos and Syntrivani Stations.
- There are archaeological investigations in progress in sections of the P.U.O. networks relocation pits in Venizelos and Syntrivani Stations.
- The project designs are in progress according to the time-schedule. Let it be noted that the Project provides for the designs' elaboration in 3 phases (Final Design 1, Final Design 2 and Implementation Design).
- The personnel occupied on a permanent basis in the Joint Venture's various worksites counts more than 120 people.
- Numerous agreements have been executed with designers, suppliers, sub-contractors etc. for services required for the completion of the project and equipment of multimillion value has been ordered, including two brand new tunnel boring machines (TBM).
All the Joint Venture members are companies with a great reputation in the Hellenic and international construction industry, with long experience and a financial standing that guarantee the successful implementation of the contract.
2. In any case and beside those aforementioned demonstrating the smooth implementation of the contract, the content of the publications commented as scenarios allegedly considered by the M.E.P.P.P.W. on both the eventual "re-tendering of the project" and its eventual award to "another construction company" by means of sub-contracting would be beyond the framework of the law in force on public works!!!
It is evident therefore that "scenarios" lying beyond the lawful procedures "could not be considered by the M.E.P.P.P.W." since these could only be the result of deficient information or fecund imagination.

B. WITH REGARD TO THE CONTENT OF AEGEK-RELATED PUBLICATIONS BEING COMMENTED
The company has currently one of the largest backlogs from project contracts, exceeding the amount of € 700 million, while within the very following days it is about to execute a new contract for the execution of Athens Metro 3 Stations (Holargos – Nomismatokopeio – Aghia Paraskevi), for a contractual price of Euro 102.9 million, including contingencies, cost-plus expenses, revision and VAT (AEGEK participation: 48%).
In addition, the company has from time to time referred through its announcements to the fact that it continues its unhindered operation, covers its liabilities and has already proceeded to the sale of non-operating assets to the end of further reducing its liabilities.
Furthermore, the company is in good terms with all its Bank associates while the Shareholders' General Meeting dated 12.02.2007 resolved on the increase of the company's share capital, through which capital at the tune of Euro 64.8 million is expected to be raised, for the repayment of further Euro 50 million bank loan and the securing of Euro 14.8 million for working capital.