Mytilineos Holdings S.A. Completes Merger by Absorption of Aluminium of Greece S.A. and Delta Project S.A. and Announces Restructuring and Share Capital Increase

Mytilineos Holdings S.A., Aluminium of Greece S.A. and Delta Project S.A. announced that on September 3, 2007, their Board Directors approved the merger by absorption of the two latter by the former. It was also announced that Mytilineos Holdings S.A. will proceed with the delisting of Aluminium of Greece S.A. and Delta Project S.A. from the Athens Stock Exchange. Aluminium of Greece S.A. will transfer the production, construction and trading of alumina to its 100% non-listed subsidiary Aluminium S.A. while Delta Project S.A. will transfer all of its energy assets and its thermoelectric production unit to Endesa Hellas S.A., a joint venture of Mytilineos Holdings S.A. and Endesa S.A. Following the completion of the merger by absorption, the shareholders of Mytilineos Holdings S.A. will hold 83.19% of the share capital of the new entity, the shareholders of Aluminium of Greece S.A. will hold 15.04% of its share capital and the shareholders of Delta Project S.A. 1.7% of its share capital. The Company also approved a share capital increase by EUR 99,891,977.10 through the increase of the par value of each share from EUR 0.60 to EUR 2.55. Following the completion of the share capital increase, the Company's share capital amounts to EUR 124,204,181.10 and is divided into 48,707,522 shares with a new par value of EUR 2.55.