ANNOUNCEMENT OF A SHARE BUY BACK OF SARANTIS OWN SHARES

The company Gr. Sarantis SA announces that the Extraordinary General Shareholders Meeting that took place on 23/02/2007 decided a share buy back program through the Athens Exchange, up to 10% of the current number of the company’s shares (the 10% represents 3,814,694 shares). The maximum buy back price was set at twelve euros (12 €) per share and the lowest at five euros (5 €) per share. The buy back period is between Monday, 12^th of March 2007 and Wednesday, 20^th of February 2008. Finally, the Board of Directors was given the approval to act accordingly for the completion of the buy back (in accordance with article 16 paragraphs 5-7 of the C.L. 2190/20).