Athens, May 29th, 2008

According to the L.3556/2007 art.19 par.2 I. Kloukinas-I.Lappas SA announces the modification of the Articles of Association which will be submitted for approval to the Annual General Meeting dated 29.05.08.:

Pursuant to the Article 22 paragraph 2 of the Articles of Association of the Company "exceptionally, the decisions provided in paragraph 3 of article 21 of the present Articles of Association are taken by a majority of 3/5 of the votes represented in the General Meeting". The above paragraph, shall be proposed to the General Meeting of the Shareholders of the Company dated 29 May 2008, to be changed as follows "exceptionally, the decisions provided in paragraph 3 of article 21 of the present Articles of Association are taken by a majority of 2/3 of the votes represented in the General Meeting".