DECISIONS OF THE EXTRAORDINARY GENERAL MEETING

On 11/11/2008, Tuesday and at 17:30 p.m., the Extraordinary General Shareholders’ Meeting of “GR. SARANTIS S.A.” took place at the company’s registered offices. During the General Meeting, shareholders representing 47.89% (17.957.858 out of 38.350.940 shares) of the company’s shares with voting right were present, and thus the company had the required by the law quorum and majority to make decisions on the daily agenda issue.

The above Meeting approved the amendment of the decision of the Extraordinary General Meeting dated 02/06/2008 regarding the share buyback program and more specifically decided to modify the lowest buyback price at the company’s nominal value which is equal to 1,54 euro (one euro and fifty four cents) or at any given nominal value. The other terms of the share buyback program remain unchanged as were decided by the Extraordinary General Meeting of 02/06/2008. In particular, the maximum number of shares that can be bought back by the company is equal to 10% of the current number of the company’s shares and the share buyback period it set 24 months from the date of the General Meeting, that is until 02/06/2010. The purpose of the program remains the improvement of the company’s earnings and dividend per share, the indirect distribution of earnings to the shareholders as well as the use in a possible future partnership or a possible future acquisition.

Finally, the Board of Directors was authorized to act accordingly for the completion of the aforementioned resolution.