ANNOUNCEMENT
for the First Repeating Extraordinary General Shareholders’ Assembly held on 03.02.2010

MICHANIKI S.A. hereby announces, in accordance with article 4.1.3.3 of the Athens Stock Exchange Regulation, that in the First Repeating Extraordinary General Assembly of the Company’s shareholders, holders of ordinary shares, which was to be held on Wednesday 3^rd February 2010 at 15:00 hours at the Company’s Head offices in the Municipality of Amaroussio in Attica (91 M. Alexandrou Street and 25^th Martiou Street), 39 legal and natural persons attended and were represented, representing 14.476.487 ordinary registered shares with voting rights out of a total of 66,937,526 ordinary registered shares with voting rights, that is 21,63%, and, therefore, there was no quorum for the discussion and taking of decisions for the 2^nd, 3^rd, 4^th, 5^th 6^th and 7^th items of the agenda, which were: 2^nd Item: Modification (investigation and re-formulation) of the objective of the Company; 3^rd Item: Modification of article 3 of the Articles of Association on the objective, in order to include the aforementioned change; 4^th Item: Nominal decrease in the share capital of the Company with the aim of setting up an equivalent special reserve fund, pursuant to the provisions of §4a, article 4 of C.L.2190/1920, added with article 32 of L. 3763/2009, without changing the number (quantity) of shares and the capitals and reserves of the Company remaining unchanged; 5^th Item: Modification of articles 5 and 32 of the Articles of Association on share capital, in order to include the aforementioned decrease; 6^th Item: Increase of the share capital with the issuance in total of 46,453,256 new common registered shares with a voting right, which will be carried out with payment in cash and pre-emptive right in favour of the old shareholders of the Company in a ratio of one (1) new common registered share with a voting right per two (2) old common or preferential shares, giving the Board of Directors the authorization to determine the said issue, within a deadline determined by the General Assembly, the disposal price of each share, pursuant to the provision of §6, article 13, C.L.2190/1920, as replaced by §3, article 19, L. 3604/2007; and 7^th Item: Modification of articles 5 and 32 of the Articles of Association on share capital in order to include the aforementioned increase.

The above 2^nd, 3^rd, 4^th, 5^th, 6^th and 7^th items of the agenda shall be discussed and decisions shall be taken during the 2^nd Repeating General Shareholders’ Assembly with ordinary shares, which, according to the decision of the Board of Directors taken on the 28^th December 2009 and the invitation, already published, shall take place on the 17^th February 2010, Wednesday at 15:00 hours, at the head office of the Company, in the Municipality of Amaroussio, Attica (91 M. Alexandrou Street and 25^th Martiou Street, ground floor, Meeting Room) without needing to publicise another invitation.

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Amaroussio, Attica, 3 February 2010
The Board of Directors