A. PETROPOULOS & ASSOCIATES

LAW FIRM PROFILE

Address: 48 Zaimi Street Athens – Greece P.C. 10683

Tel: 0030 210 82 22 717Fax: 0030 210 82 22 787E-Mail: evaggpet@otenet.grWebsite: www.aggelospetropoulos.gr

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TABLE OF CONTENTS

1. LAW FIRM’S PROFILE

2. FIELDS OF EXPERTISE

3. ASSOCIATES

4. SERVICES

5. PROJECTS

6. CLIENTELE

7. INTERNATIONAL ASSOCIATES

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1. LAW FIRM’S PROFILE

The Law Firm “A. Petropoulos & Associates” was founded byEvangelos - Aggelos Petropoulos in 1982 and its registered offices aresituated in Athens, at 48 Zaimi Street, in a private owned and fullyrestored neoclassical building, originally built in 1925.

A. Petropoulos & Associates Law Firm is being constituted by alegal and financial team of experts, who can provide updated legal,financial, taxation and stock exchange advice.

Our Law Firm has furnished its services in a wide range ofcompanies of the Public and Private Sector in Greece, including companiesof Public Utilities. In addition, our Law Firm has acquired profoundknowledge and experience in the fields of Energy and Renewable EnergySources and of the Greek and European Environmental and EnergyLegislation.

Our acquired expertise is based on providing legal advice asexternal consultants in Independent Authorities of the Greek EnergySector such as RAE (Regulatory Authority for Energy) and in the GreekCompetition Commission, as well as providing legal support in Authoritiesof the Public Energy Sector, such as DESFA, DEPA, PPC, EYPAP.

In addition, due to our Law Firm’s continuously growing expertisein the energy sector, by having provided legal services to many entities ofthe energy sector in the Greek environment through out the years, wefeel privileged to have deeply studied and understood the status quo ofacquisition of Renewable Energy Sources licences, as well as thepeculiarities and problems of all relative procedures and existinglegislation concerning renewable energy resources licence acquisition. OurLaw Firm is capable of pinpointing the problems and providing solutionswhen it comes to licences’ acquisition. Moreover, based on our Law firm’sgood collaboration with Public or Independent Entities of RenewableSources in Greece, we can keep accurate track of the procedures bymonitoring the acquisition of a licence from its early start until its finalcompletion.

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Our Law Firm’s clientele is spread in companies that are listed onNational and International Stock Exchange Markets, and thus has gainedvaluable experience in Economics and Stock Market Law in National andInternational level.

Furthermore, we consider ourselves experts in the field ofCompanies’ Mergers and Acquisitions in a National and Internationalscale, as we have been dealing, through out the years, with casescovering the full range of legal issues which may emerge from theestablishment to the day - to - day operation of a company, while thecompany's managers and officers have the opportunity to obtain on adaily basis professional support and advice on legal and financial issues.

Moreover, our Law Firm also specialises in the fields of Real estatelaw (including the research of ownership deeds, and ownershiplegitimacy, the purchase and sale of real estate, assets management),Tax law, Investments, Banking law (including loan agreements with Banksor other financial institutions), Tenancy law (tenancy contracts orhandling disputes arising from tenancy agreements), Insurance law andCorporate Law (including incorporations, acquisitions and mergers,agency and distribution agreements, franchising, factoring).

“A. Petropoulos & Associates Law Firm” is a member of theInternational Fiscal Association (IFA), the UAE (European Union ofLawyers), The Greek Association of Taxation Law and the GreekAssociation of Commercial Law.

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2. FIELDS OF EXPERTISE

Our Law Firm is specialized in:

Energy Law

Environmental Law

Financial Law & Stock Exchange Market legislation

Real Estate issues – Investments

Taxation law issuesrelationships between the company and tax authoritiesSetting up and monitoring Foreign companies

Commercial Law issues

Formation of a company, company mergers and acquisitions

Transfer of shares

Introduction of a company on the exchange markets

Agreements and contracts with domestic or foreign firms

Franchising contracts & leasing contracts

Contracts for bonded and syndicated loans

European Law

Company subsidisation and funding issues

Issues concerning the company's relationships and co-operationswith banks

Issues of Protection of Intellectual Property, Trademarks,Industrial Designs, Domain Names and Unfair Competition

Civil Law & Labour Law issues

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3. ASSOCIATES

In the Law Firm “A. Petropoulos & Associates”, the sector ofEnergy, Renewable Energy Sources, Environmental and Commercial Law,is composed by a group of eight experts. Seven lawyers and afinancial/tax consultant create a concrete team of people who cancombine multiple educational and professional backgrounds along withknowledge and acquired experience in the most efficient way.

Moreover, and in order to reassure that our services are beingdelivered in the most immediate and successful way, we are beingsupported by a six - member secretarial team, a trainee, a notary public,as well as a number of collaborating external specialists and consultants.

Team work is one of our Law Firm’s special traits as this way wecan deliver the most immediate, accurate and efficient results.

Brief Presentation of our Associates - Curriculum Vitae

Evangelos – Aggelos Petropoulos: Lawyer/ Financial Consultant

Evangelos - Aggelos Petropoulos was born in Athens in 1951.He is a Lawyer and Member of Athens Bar Association. He graduated fromthe Law School of National and Kapodistrian University of Athens in 1982.In addition he studied Economics and Business Administration at theEconomic University of Athens from which he graduated in 1974.Moreover, he continued his studies at Pandeos University of Athens,studying Political Sciences, from which he graduated in 1977. Hepractices law since 1983 and is lawyer of the Supreme Court of Appealsince 1990.

Following a career as an economic consultant from 1977 - 1982,he founded the A. Petropoulos & Associates Law Firm in 1982, aiming atoffering to Corporations, state of the art legal and financial coverage. Hemanaged to build an eminent clientele of more than 60 of the mosteminent firms of the Greek market, many of which are listed on theNational or International Stock Exchange Markets.

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He has become an expert in energy law as he has served as anexternal legal consultant in the Greek Ministry of Environment-Energy and Climate Change for the period of 2009-2011, providingvaluable advice in the procedure of auction of pollutants, that took placefor the first time in Greece. In addition, he was head of the team that wasengaged with the creation of a Legal Entity for the research of hydrocarbons deposits in Greece.

Moreover, for a two year period (2010 -2011) he was the VicePresident of the Board of Directors of PPC Greece, which constitutes amonopoly in Electricity provision in the Greek territory.

For the years 2008 and 2009 he served as external legalconsultant in EYDAP, which is the Public Entity for water provision inGreece.

Furthermore, for an eight year period (2001-2009) he was legalconsultant of Greek Yellow Pages, and profoundly contributed in thesecession of “The Yellow Pages” Sector from the OTE SA group, and thesubsequent creation of a new subsidiary under the name “Infote”.Moreover, he was in charge of the legal formulation of the project ofdissolution and liquidation of DEPOS AE, an eminent Greek constructingcompany.

He has also served as legal and financial advisor in a number ofOrganisations and Public Entities such as the Greek Air Force Industry(1982-83), the Greek Export Organisation of Medium - Sized Companies(EOMMEX) (1987-88), the Greek Coastal Shipping (1988) and theMinistry of Industry (1987-88).During his engagement with these

Entities he had the great chance to take part in the privatizationprocedures of several subsidiaries of EOMMEX and of the SocieteAnonyme “Greek Coasting SA”, which are the only privatizations thathave ever been realized in Greece until now.

Evangelos - Aggelos Petropoulos specializes also in tax law,having gained considerable experience in issues concerning thecompany’s relationships with tax authorities and, also, in Commercial Lawand in Corporate Law. Apart from his professional experience in law

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practice, he has performed valuable research, and was a pioneer instudies in stock options in the Greek corporate environment. He hasperformed radical publications in the Greek Financial Press and in GreekTax Magazines.

He is a member of the International Fiscal Association, the Unionof European Lawyers (UAE) and of the Greek Association of Taxation Law.He speaks English fluently.

Panayiotis Vassiliou : Lawyer

Panayiotis Vassiliou was born in Piraeus in 1965. He graduatedfrom the Law School of National and Kapodistrian University of Athens in1992 and is a member of the Athens Bar Association since 1994. He isnow Lawyer to the Court of Appeal. He is a member of the A. Petropoulos& Associates Law Firm since 1994 and became a partner in 2007.

His has gained valuable experience in the field of energy andrenewable energy sources, working as external legal consultant inDESFA S.A., the Greek company for natural gas provision. He hasextensive experience and expertise in legal issues concerning theestablishment and operation of companies, and has worked with manycompanies from the energy sector, acquiring thus, useful knowledge andexperience concerning the particularities of this sector.

Panayiotis Vassiliou also has profound specialization in companylaw, foundation of all kinds of companies (personal, limited liability andSociete Anonyme), company transformations and mergers & acquisitions,company dissolutions, introduction of companies to the stock market,contracts, franchise agreements, registering and protection of trademarksand patents.

He has also served as member of the Board of Directors ofthe Greek Natural Gas provider “DESFA SA”, for the years 2010 -2011.

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Throughout the years, has served as legal consultant in the following eminent Greekand International companies:

- In “ELTON SA”, from 2000 till today, a company listed on the Greek Stock Market.In this project he was engaged with the company’s introduction to the Greek StockExchange, its acquisition and subsequent merger with “MOSCHOLIOS CHEMICALSSA”, and the foundation of its subsidiaries in Bulgaria, Romania, Serbia, Ukraine andEgypt.- In “YELLOW PAGES SA” (ex INFOTE SA), from 2001 until 2008, where he becameinvolved with numerous legal issues of the company’s operation, including itsacquisition by Rhone Capital LLC and Zarkona Trading.- In “CRETA FARM SA”, from 2008 until 2010, where he became involved withCapital market issues, recording of Minutes of General Assembly and Board ofDirectors, agreements, contracts and bond loans.- In “KORN – FERRY INTERNATIONAL BUSINESS CONSULTANTS SA”, the subsidiaryof the American International Consultant Company “KORN FERRY INTERNATIONALINC”, which is listed on New York Stock Exchange Market, from 1999 until 2007,where he became involved with legal issues concerning recruitment and humanresources.- In “PIRELLI HELLAS SA”, the Greek subsidiary of Italian International company«PIRELLI», from 2000 until 2001, where he mainly treated labour and taxation legalissues.

In addition to his legal studies, he has attended a number ofseminars such as "Introduction to modern accountancy" (1992-93),organised by the Greek Centre of Productivity (ELKEPA), "The introductionof Societes Anonymes to the exchange market" and "penal andadministrative sanctions on SA and Ltd representatives for tax violations",organised by the "Association of SA's and Ltd's".

Apart from Greek, which is his mother language, he is proficient inboth English (University of Cambridge Certificate of Proficiency) andFrench (Superieur III - French Institute of Athens) languages, and alsospeaks Italian adequately.

Nikoletta Vrioni: LLM Lawyer

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Nikoletta Vroni was born in Athens in 1975. She graduated fromthe Law Department of the University of Thrace in 1996 and she becamea member of the Athens Bar Association in 2000. She is Lawyer to theCourt of Appeal. She holds a Master’s Degree in Commercial Law, fulfilledin the Law School of the University of Athens.

She has acquired great experience in Commercial and Financial lawas well as in Stock Exchange legislative and regulatory environment.

Nikoletta Vroni deals primarily with issues relevant to the Civil,Commercial, Corporate and Financial law such as:- Real-estate Investments (drawing up documents of lease,agreements of land- sale, control of property documents in therelevant national authorities)- Transformations of legal entities: i.e.: The formulation of the companyCHRISTOPOULOU BROS SA.- Corporate Mergers & Acquisitions and Secessions: i.e.: The secessionof OTE SA and the creation of the new legal entity INFOTE SA.- Experience in Financial Analysis. She has extensive experience inanalyzing and approving annual balance sheets and financial results.- Corporate Law (SA - Ltd – personal companies etc.). In 2007 sheattended a seminar on the New Greek Law for the Societes Anonymes(changes in the establishment, operation and organization of SA andlegislative provisions).- Acquisitions, sell outs and buy outs of legal entities, transfer of shares,amendments of the company’s statute.- Editing and formulation of contract bonds.- She has also valuable experience in Bankruptcy Law and profoundknowledge of existing bankruptcy procedures.- File editing for participation in public procurement calls for tenders- Company Incorporation

During her graduate and post-graduate studies she did academic/post-graduate research in a number of areas, which include the rights andobligations of a commercial representative, legal problems andcomparative law in bankruptcy, commercial activities and commercialcompetences of Unions, as well as her final dissertation on "Bankruptcyand the Societe Anonyme - The jurisdictions of the assignee of the

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bankrupt's estate in the bankruptcy of legal entities - The obligationsfaced by the assignee in the execution of his duties"

She is an active member of the Greek Commercial Law SpecialistsAssociation and she has also attended a number of seminars - coursesorganised by The Lawyers' Association of Athens on European law issuesand consumer protection according to EU directives as well as modernbanking law and consumer credit and in conferences concerning the newbankruptcy law and the tax regulations that this new procedure brings up.She is fluent in English and Italian and computer literate.

Vasiliki – Anastasia (Nadia) Petropoulou: MBA Lawyer

Vasiliki – Anastasia (Nadia) Petropoulou was born in Athensin 1982. She studied Law in the Law School of National and KapodistrianUniversity of Athens from which she graduated in 2005. She widened herfield of expertise by acquiring a Master in Business Administration (MBA),graduating from University of Economics of Athens in 2007. She is Lawyerto the Court of First Instance and a member of the Athens Bar Associationsince 2007. She is a member of Law Firm “A. Petropoulos & Associatessince 2004, and is a partner since 2007.

During her MBA studies she has gained specialization in thefield of Marketing and in innovative promotional techniques inNational and International level, studying market competition andits implications in the corporate development. In addition, shemanaged to acquire useful experience in the practical implementation oflegislation in the corporate environment and the importance oforganizational culture in the field of mergers and acquisitions.

During her economic studies she performed a monthly studyfield trip in Peking University in Beijing, attending classes concerningthe Chinese marketing tactics and their success in the introduction ofChinese products in international markets.

She has profound knowledge of Corporate and Commercial law,Economics, Accounting, Competition law, Intellectual and Industrial

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Property Law, Trademarks, Domain Names and Industry Designslegislation.

During her academic studies she has gained useful experiencefrom multiple educational backgrounds and has established intense teamspirit by structuring Business Plans for eminent Telecommunication & FastConsuming Goods companies in the Greek market such as Vivodi,Forthnet and KRAFT FOODS. She has explored in practical level freemarket behaviors, ethics and results of unethical competition.

Apart from her Academic studies she has followed seminars onIntellectual & Industrial Property Sector, on Societe Anonyme and onmarketing techniques. She is proficient in English (Certificate ofProficiency in English, University of Cambridge) and French (DALF), andcomputer literate (Word/ Windows/Internet).

Eleni-Asimina Patra (Elmina) Patra: Attorney at Law (LLM)

Eleni-Asimina (Elmina) Patra was born at Trikala Thessalias in1978. She graduated from Law School of National and KapodistrianUniversity of Athens in 2002 and she became member of Athens BarAssociation in 2004. She has a great experience in issues ofenvironmental law, mainly, in issues of sustainable developmentand conflict between protection of Property and Environment.Specifically, she has a post-graduate diploma in International Law andDiplomatic Studies from Panteos University of Athens (Department ofInternational and European Studies), where she did an academic researchwith the title: “Trade, Sustainable Development and Environment: Theirrelationship with the International Contemporary Law”.

Since April 2010, Eleni-Asimina (Elmina) Patra is external LegalConsultant of the President of the Regulatory Administrator of Energy(RAE), the national regulator, which is in charge for the regulation andthe balanced operation of the whole Greek energy market (electricity andnatural gas) deriving from any kind of renewable sources of energy. FromOctober 2010 until June 2011, she was member of the committeecompetent for the drawing up of the law 4001/2011 representing RAE.

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This law incorporated in the Greek legislation the so called ThirdPackage of Energy (Third Package of Legislative Measures for theLiberalisation of the Market Energy – Directives 2009/72/ΕΚ and2009/73/ΕΚ of the European Parliament and European Council of the 13thJuly 2009, Regulations (EC) 713/2009, (EC) 714/2009 AND (EC)715/2009) and brought on radical changes to the field of organization andregulation of energy market. Among other issues, this law declared theindependence (financial and administrative) of RAE towards Ministry ofEnvironment or any other public authority, in order for the facilitation andacceleration of the investments and of the liberalization of the energymarket to be achieved.

In addition to the aforementioned, she has participated to thedrawing up of the new Regulation of Arbitration of RAE, according towhich companies activated to the energy market (electricity and naturalgas) can settle economic disputes out of court.

Eleni-Asimina (Elmina) Patra specializes also in many sectors ofcivil and commercial law, especially in the field of real-estate (drawing updocuments of lease, agreements of land- sale, control of propertydocuments in the competent national authorities) and sales (economicdisputes, defective goods) and she has a great experience in practicinglaw to the court. She is proficient in English (Certificate of Proficiency inEnglish, University of Cambridge and Michigan University) and French(DALF), and computer literate (Word/ Windows/Internet).

Athanasia Sokka: Lawyer – Legal Consultant

Athanasia Sokka was born in Athens in 1966. She studied Lawin the Law School of National and Kapodistrian University of Athens fromwhich she graduated in 1988. She is a member of Athens Bar Associationsince 1990. She is an expert in Corporate Law, in Stock ExchangeMarket legislation, and in Real Estate law and related legislativeand regulatory procedures concerning land property. She hasgained valuable experience as she has provided legal services innumerous companies of national and international level, which areactivated in many industry sectors, in construction, commerce andtourism.

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Athanasia Sokka has worked with brokerage companies andrelevant authorities, during introduction of the companies “NEXANSHELLAS SA” and “KYRIAKOULIS MEDITERRANEAN CRUISES SHIPPINGSA” on the Athens Exchange Market. She has also participated in theformulation and editing of the relevant “due diligence” report.

From 1990 until 2009 she provided her services as an externallegal consultant for the Italian company “IMPREGILO SpA” which is listedon the Milan Exchange Market, concerning the projects that theaforementioned company had undertaken in Greece in cooperation withother Greek and foreign companies (Acheloos tunnel diversion, subwaystations in Athens, subway in Thessaloniki, Tram construction in Athens,University Hospital of Larisa, Hospitals of Thriasio Pedio and Chania,Central Laboratory of Public Health in Vari - Attica, Athens Concert Hall,road axes, several competitions of public tenders).

From 1997 until the 2009 she provided her services as an externallegal consultant to the company “KYRIAKOULIS MEDITERRANEANCRUISES SHIPPING SA” which is listed on the Athens Exchange Market aswell as to the rest companies of the “KYRIAKOULIS” group in Greecebeing involved in major projects such as the exploitation of tourist ports –Gouvia of Corfu, Zea, Lefkada, Kalamata.

In 2010 she had organized and implemented the merger byabsorption of the company “EDA S.A.” (GAS DISTRIBUTION COMPANY) bythe company “DEPA S.A.” (PUBLIC GAS CORPORATION).

Since 1992 till today, she is providing her services as an externallegal consultant to the company “NEXANS HELLAS S.A.” which is listed onthe Athens Exchange Market (subsidiary company of the “NEXANS” groupwhich is listed on the Paris Exchange Market), with main subject thecompany’s relations with all the Supervising Authorities and theenforcement of the relevant legislation (Athens Exchange Market, CapitalMarket Committee, relevant Ministries).

Since 1998 she has been providing her services to the companiesof the “ALSTOM” group (which is listed on the Paris Exchange Market) andsince 2009 has been legal consultant of the Greek subsidiary “ALSTOMHELLAS SA”, which implements projects on the sector of transport and

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energy in Greece (subway stations in Athens, signaling of OSE, projectsfor PPC etc).

She is fluent in English, German and French language and she is acomputer literate.

Dimos Farros: Financial- Tax Consultant

Dimos Farros is a graduate of the department of Economics ofthe University of Athens. He is a member of the Greek Chamber ofEconomics and has a professional licence as an Economist, Financialanalyst and tax consultant since 2004.

He is profoundly experienced in due diligence issues and is anexpert in providing strategic guidance to companies that are doingbusiness in Greece, as he is being constantly updated of the continuouslychanging taxation legislation in Greece. His practical experience andawareness of the Greek economic reality are key factors of his successfulcontribution in project evaluation.

Dimos Farros has special knowledge in Accounting, TaxationLaws and Practices and in issues concerning Commercial law, accountingapplications, as well as in international principals of financial information,tax revenue and V.A.T. issues.

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4. PROJECTS

Our Law Firm and its Associates have -among others- encountered thefollowing projects as they are indicated below:

1) Participation in the team of the Ministry of Environment, Energyand Climate Change (YPEKA) which proceeded to a thorough examinationof the possibility of exploitation of natural gas deposits in the Prefectureof South Kavala, as well as the possibility of exploitation by the GreekGovernment of this area as a storage facility of natural gas. Duration ofthe project: 2010-2011.

2) Composition of a Memo on the Agreement signed between theGreek Government and the Aegean Energy SA, as well as a thoroughstudy of the relevant legislative framework (L. 2289/1995, 2779/1999,Directive 94/22/EC), in the year 2010.

3) Participation in the foundation of a legal entity (SocieteAnonyme), concerning research for hydrocarbons deposits, in Greece,during the years 2010-2011.

4) Profound Study and comment on the project of the transfer ofthe operation of electricity of PPC as a whole, to a new subsidiary, owned100 % by PPC, in the year 2011.

5) Full legal support and implementation of the merger procedurevia absorption, of EDA SA by DEPA SA in the year 2010.

6) Legal monitoring of the issues risen during the competitionprocedure concerning the project of the lease of the Lignite Mine of Vevito a private tender by the State, during the years 2010-2011.

7) Legal design and formulation of the procedure of auctionpollutants, which was held for the first time in Greece by the Ministry ofEnvironment, Energy and Climate Change in 2011.

8) Monitoring the competition procedure that was announced byDESFA SA, for the study, equipment supply and construction of the thirdtank of liquefied natural gas on the island Revithousa during the years2010-2011.

9) Participation in the Legislative Committee for the establishmentof L. 4001/2011 concerning the integration by the European Union of thenational law of the “Third Legislative Package Measures for the Liberationof the Internal Energy Market”, in the year 2011. The aforementionedLaw, deals with many issues which concern in the overall restructuring of

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the energy field ( electricity and natural gas) and consequently the way ofexercising the regulatory supervision in this area, according to thefollowing: a) the monitoring of the security of the energy supply, b) themonitoring and supervision of the energy market, c) consumers’protection, d) supervision and certification of the independent contractorsassigned with the transfer of electricity and natural gas, e) placement anddisposal of the compliance officer of the independent contractors ofelectricity transfer, f) transparent, fair and impartial access of thirdparties to contacts and networks in general, g) formulation andmonitoring the implementation of the Development Program of theTransportation System, h) invoices of non-competitive activities.

10) Participation in the secession of the Yellow Pages from theOTE SA group, and creation of a new subsidiary company under the nameINFOTE SA, in the year 2002.

11) Sale of new subsidiary of OTE SA, INFOTE SA, in the year2008.

12) Plan formulation concerning the dissolution and liquidation ofDEPOS SA, in the year 2010.

13) Preparation of all documents and files required for theintroduction of the companies: ELTON SA in 1999, TSOUKARIDIS SA in1999, DIOPHAR SA in1999, ROSSI SA in 2000 and EVETE SA in 1999, inthe Athens Stock Exchange

14) Study and design of the procedure of acquisition of thecompany “MOSCHOLIOS CHEMICALS SA” by the listed company “ELTONSA”, in the year 2004, and their consequent merger.

15) Study of arbitration procedure concerning the company DESFASA, in the year 2010.

16) Consultancy services provision for the formulation of the Lawconcerning the settlement of semi-open spaces of Greek buildings, in theyear 2010, which was under the authority of the Ministry of Environment,Energy and Climate Change (YPEKA).

17) The Company has covered with successful results the positionof external Legal Consultant in the following companies in which theGreek Government is one of the shareholders:

a. OTE SA (Period 2001-2002) b. INFOTE SA (Period 2002-2008) c. ΕΥDΑP SA (Period 2008-2009) d. DEPA SA (2010)

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e. DESFA SA (Period 2009 - 2012) f. RΑΕ (Period 2009-2012)

18) Through out the years our Law Firm has undertaken theprovision of Legal consulting services, to the following Companies, listedon the National or International Stock Exchange:

- In the Greek subsidiary of the BENETTON group which is listedon the Milan Stock Exchange.

- In the Greek subsidiary company of the IMPREGILO groupwhich is listed on the Milan Stock Exchange.

- In the Greek subsidiary company of the KORN – FERRYINTERNATIONAL INC. group which is listed on the New York StockExchange.

- In the Greek subsidiary company of the SGS group which islisted on the Zurich Stock Exchange.

- In the company ELTON S.A. which is listed on the Athens StockExchange.

- In the company CRETA FARM S.A. which is listed on the Athens StockExchange.

- In the group of companies VERSACE listed on the Milan StockExchange.

- In the Greek subsidiary company of the DIADORA group which islisted on the Milan Stock Exchange.

- In the company NOTOS GALLERY S.A. which is listed on the AthensStock Exchange.

- In the POSTAL SAVINGS BANK S.A. which is listed on the AthensStock Exchange.

- In the Greek subsidiary company of the CARTIER group which islisted on the Paris Stock Exchange.

- In the Greek subsidiary company of the MIKASA group which is listedon Tokyo Stock Exchange.

- In the company MOUZAKIS S.A. which is listed on the Athens StockExchange.

- In the Greek subsidiary company of the PIRELLI group which is listedon the Milan Stock Exchange.

- In the company LEVENTERIS S.A. which is listed on the Athens StockExchange

- In the company NEXANS HELLAS S.A. which is listed on the AthensStock Exchange.

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5. SERVICES

Within the context of the obligations that our Law Firm is capableof undertaking, is the procedure of transfer of electrical power productionlicenses of above 1MW, which are under the authority of RAE, or of below1MW which are under the authority of PPC. Concerning this project itmust be underlined that our associates are in full capacity of furnishingtheir services in the most complete, immediate and successful way. Theirexperience allows them to monitor the process of such a transfer in all ofits stages so as for the security of the transfer to be reassured and itsrealization to be completed in a logical timeframe. In order to achievesuccessful results our Law Firm is following the below mentioned steps:

It is of crucial importance that a thorough investigation takesplace concerning the full and extensive legal and taxation check of theowners (persons or legal entities) of the licenses of electrical powerproductions. This check is mandatory as in most cases the proprietors ofthe licenses, especially of licenses above 1 MW, are legal entities (societesanonymes), whose shareholder composition should be checked in orderfor a secure transfer to be achieved. In addition our Law Firm’s teamincludes specialized tax consultant who is in full capacity of running a duediligence and taxation check of the company who is the beholder of thelicense so as for the company’s value to be correctly evaluated, and thusthe price of the license to be calculated.

In a second level our Law Firm being composed by specializedlawyers in the field of energy has the profound experience to proceed to athorough examination of the files of the specific licenses of the electricityproduction that are about to be transferred. This examination includes thestudy of all legal documents that the beholder of the license (legal entityin the majority of the cases) has filed to the relevant authorized entities(PPC or RAE), taking always into consideration the prerequisites that aredefined from the relevant Regulation, so as for the license to befurnished.

By following this procedure we can be certain that the licensethat is about to be transferred is flawless and thus to disincline any futureproblems that could have arisen if those precautions had not beenapplied. It is of major importance to reassure that a complete and correct

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license is being acquired as the new proprietor will have the license for aperiod of 25 years.

In addition before entering into any agreement the proprietarystatus of the “fields” must be examined and by using the word “fields” wemean the land – real estate property, where the stations of production ofelectricity from renewable sources are, or will be installed. Our associateshaving tremendous experience in real estate acquisitions and relevantinvestments can proceed with precision and accuracy to a thorough andprofound examination of the proprietary titles/contracts of ownership ofthe relevant “fields”, which includes visits to the sites and research to thefiles of the relevant Land Registry offices and to the files of all publicauthorities which are involved with such an acquisition (Forestry,Archaeological Authority, Urban Planning Authority etc).

Upon completion of the examination of the status of the ownersof the licenses of electricity production as well as of the fields were thestations are installed or are about to be installed, our associates have thefull legal knowledge and background for a successful and secure transferto be achieved. This includes the editing of every legal document neededfor the achievement of the transfer (private agreements, NDAs, contracts,lease contracts, proxies, notary public documents etc).

Even in the cases of a transfer of licenses of stations of electricityproduction of over 1 MW, in which cases an approval from RAE is requiredin order for the license to be valid according to the Greek Law, or in casesof a transfer of licenses of stations of electricity productions of below 1MW in which cases an approval is required from other public authorities,our associates have the necessary expertise to undertake the preparation,the submission and the monitoring of the progress of the files submittedin all relevant authorities (RAE, PPC, DESMHE etc).

Apart from the provision of the aforementioned services, in orderfor the transfer of the license of electricity production to be safelycompleted and in the most immediate and efficient way, our associatesdue to their expertise and experience in the field of energy andenvironmental projects are in position of providing general legal andtaxation advice on issues of Renewable Energy Sources. We consider ourpriority and obligation to keep our clients continuously updated on theexisting and constantly changing legislative and regulatory Greekenvironment and to inform them for every change or amendment thattakes place in the sector of Renewable Energy Sources.

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Moreover and regarding our obligation to upgrade the servicesprovided, our associates by being severely involved in multiple ways inthe field of energy market in Greece (DEPA, DESFA, RAE, PPC, DESMHE),have access and are in position to take part in the formulation of theaforementioned legislative context via the submission of relevant memosin combination with their physical presence in the relevant Authorities andMinistries. The long lasting and versatile experience of our team membersallows us to provide guidance on financial and taxation issues alwayscombined with our profound knowledge of corporate law. In addition ourassociates can provide constant information on new investment anddevelopment laws and propose ways of collaboration with Greek creditand banking institutions concerning the funding of Renewable EnergySources.

To conclude our Law Firm is constantly informed of the existinglegislative and regulatory regime in Greece and is always in position toprovide useful insight of the financial environment and of future financialand taxation measures that are about to be instituted by the GreekGovernment so as for our clients to be alert and aware of futureopportunities or restrictions. It is our goal to be able to foresee the courseof Greek economy and to be able to advise our clients on the futureinvestments and commercial risks they are intending to take.

It should also be underlined that in order to provide theseservices, our staff is reachable every working day during working hoursfrom 08.00 a.m till 22.00 p.m., and even later if necessary throughtelephone or e-mail. In addition, members of our staff can also bedispatched to your premises in Greece several days per week in order toprovide services in a more direct and immediate way.

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6. CLIENTELE

OTE SA (Telecommunications Provider)

YELLOW PAGES SA (ex INFOTE SA)

DEPA (Natural Gas Provider)

DESFA (Natural Gas Provider)

MINISTRY OF ENERGY- ENVIRONMENT

& CLIMATIC CHANGE

PPC (Electricity Provider)

KORN FERRY SA

PIRELLI SA

DIOPHAR SA

ΚΥΑΝΟUS STAVROS SA

BOUTIQUE CARTIER HELLAS SA

CRETA FARM SA

ΒΕΝΝΕΤΟΝ SA

KRAFT FOODS HELLAS SA

GERMANOS SA

GEO Y & R SA

CLEVERBANK SA

ELTON SA

EXTRA PROTA KAI FTHINA SA

EYDAP (Public Water Provider)

ERGON SA

ΖΙΤΑ CONGRESS & TOURIST

ENTERPRISES SA

ROSSI SA

ΜΕΤROPOLIS SA

MOSCHOLIOS CHEMICALS SA

ROBERT MATRA SA

ΟRIZON SA

UNIMA TEXTILES SA

MORE & MORE HELLAS SA

TPW SA

METRIKI CONSTRUCTING SA

NG PROPERTIES SA

NEWSPAPER “ΤΟ ΠΟΝΤΙΚΙ” SA

SUNTECH EUROPE LTD

PAN SIK SA

SOLID SA

SGS HELLAS SA

SURVEILLANCE SA

SEVEN CO LTD

GEOINVEST SA

TOYS ACADEMY SA

RADIO KORASIDIS SA

ACS COURIER SA

FOODLINK SA

FOURLIS & CO SA

FREEFONE HELLAS SA

INFOQUEST SA

PLAY BOY SA

NOTOS COM SA

ΜOUZAKIS SA

Mc DONALD’S

23

7. INTERNATIONAL ASSOCIATES

Law Firm in Nicosia - CyprusPCV &Co Law Firm41 THEMISTOKLI DERVIS Street, Hawaii Nicosia TowerSuites 806-807, P.C. 1066 NICOSIA, CYPRUSTel.: 003572 2764216Fax: 003572 2768277E-mail: contactus@pelaghiaslaw.com

Law Firm in Sofia - BulgariaIVANOVA THEODORA10 PATRIARCHI EVTIMIJ BLVD1ST Floor – SOFIA, BULGARIATel: 003592 9803284Fax: 003592 9802122

Law Firm in Thessaloniki – GreeceKARAVASILIS SPIROS11 TSIMISKI Street, THESSALONIKI, GREECE7th Floor, P.C. 54624Tel : 0030 2310 278058Fax : 0030 2310 238927E-mail : karavasil@gmail.com