MICHANIKI S.A. hereby announces, in accordance with article 278 of the Athens Stock Exchange Regulation, that the first repeating General Assembly of the Company's shareholders, which was held on Wednesday 9 July 2008 at 14:00 hours at the Company's Headquarters in the Municipality of Amarousio in Attica (91 M. Alexandrou Street and 25th Martiou Street), attended and represented by 39 shareholders, more specifically 13 legal and 26 natural persons, representing 2.142.802 ordinary registered shares with voting rights out of a total of 66,937,526 ordinary registered shares with voting rights, that is 3,20%, irrespective of the fact that there was not the required by the law and articles of association quorum of the 1/2 paid share capital for the discussion and taking of decision for the 11th item of the agenda which was: "Item 11th: Vesting the Board of Directors with a five-year authority to: a) increase the Company's share capital in accordance with article 13 §1b of Codified Law 2190/1920, as currently in effect, and b) to decide whether to issue debenture loans with convertible debentures in accordance with article 3a §1b of Codified Law 2190/1920, as currently in effect", was cancelled as the Board of Directors of the Company withdrew the said item from the agenda with its decision dated 09.07.2008 and as a consequent the said issue is not pending for discussion. According to the aforementioned decision of the Board of Directors there will not be a second repeating special General Assembly of the shareholders and the one determined with the invitation, dated 29/05/2008, of the Board of Directors for Wednesday, 23rd July, 2008, at 14:00 is cancelled as with the aforementioned decision of the Board of Directors the invitation dated 29/05/2008 on the convention of the said second repeating General Assembly was revoked.