PIRAEUS PORT AUTHORITY S.A.

Press Release, Piraeus, 3.6.2008

Today, Tuesday June 3, in the presence of representatives of the candidate companies, the opening in protocol order of filing of the technical and financial offers for the concession of the Container’s Terminal Piers II and III was conducted by the Evaluation Committee.

The total bid, including advance payments and rents, offered for 35 years amounts to:

• € 4.305 million for Cosco Pacific ltd of which 79% is guaranteed, plus investments amounting to €620 million and
• € 4.063 million for the union of companies of HPH Ltd, HPI Sarl, Alapis AEBE and LID S.A. of which 75% guaranteed, plus investments amounting to €354 million.

The Evaluation Committee in subsequent meetings will further examine the files and will prepare a record which will be submitted to the Board of P.P.A. S.A. in order for a decision to be taken concerning the proclamation of a provisional concessionaire. These procedures are estimated to be completed in full agreement with both the original time-frame of the tender, and the commitment of the Minister of Mercantile Marine, the Aegean and Island Policy, within the current

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