AVIN OIL S.A.

In March 2002 the procedure for the acquisition of the aggregate of AVIN OIL shares by MOTOR OIL (HELLAS) CORINTH REFINERIES S.A was completed following the Ministry of Development approval No. K2-584/15.1.2002.

AVIN OIL is a petroleum products retail company which offers high quality products (Gasoline, Diesel Oil, Fuel Oil, Asphalt, LPG and Lubricants) covering all types of applications (transportation, industrial and household usage).

With a network of approximately 560 gas stations all over Greece operating under the brand name AVIN, and annual sales volume (in 2007) of 1,200,000 MT AVIN ranks 4th in the domestic market with a share of approximately 9%.

In 2007 the turnover of AVIN amounted to Euro 827 million.

The company was founded in Athens in 1977. As at December 31st, 2007 the headcount of AVIN personnel amounted to 218 persons.

Its main supplier is MOTOR OIL (HELLAS) S.A. AVIN fuels comply with the European and Greek specifications, while the lubricants exceed the international API, SAE and CCMC specification standards as well as those of the major car manufacturers.

The primary objective of AVIN is the qualitative enhancement of the domestic network of its gas stations and the strengthening of its new endeavors.

Within this context AVIN constructed and operates a twin Automotive Service Station at Megara (40 km outside Athens) located at the new section of the Athens – Corinth National Highway which apart from fueling offers banking, catering, car maintenance and other services.

Moreover, AVIN participates with a 14% stake at the share capital of Olympic Fuel Company (OFC) S.A, an entity which designed, financed, constructed and has the exclusive right to maintain and operate the Aviation Fuel Storage and Distribution (Hydrant) System of the Athens International Airport.

Finally, AVIN is a founding shareholder participating with a 50 % stake at the share capital of HAFCO S.A the objective of which is to provide into-plane services and aircraft fuel supply at various airports.