DECISIONS OF THE EXTRAORDINARY GENERAL MEETING

On 02/06/2008, Monday 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 52.79% (20.246.356 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.

Specifically, the above Meeting decided, according to article 16 of c.l. 2190/1920, as in force,  a share buy back program through the Athens Exchange, up to 10% of the current number of the company’s shares (the 10% represents 3,835,094 shares). The maximum buy back price was set at seventeen euros (17 €) per share and the lowest at five euros (5 €) per share. The company may acquire own shares up to twenty four months from the date of the General Meeting in order to improve the company’s earnings and dividend per share, indirect distribution of earnings to the shareholders as well as for use in a possible partnership or a possible future acquisition. Finally, the Board of Directors was authorized to act accordingly for the completion of the buy back program.