Neochimiki L.V. Lavrentiadis S.A. announces that it shall redeem the convertible bond issued in 2007 of an aggregate nominal value of 100.000.000 Euros in its entirety. Specifically, bonds with an aggregate nominal value of approximately 88 million Euros will be redeemed on August 4, 2008 pursuant to the exercise of a put option by the bondholders and the remaining will be redeemed on August 14, 2008 pursuant to a redemption notice by the Neochimiki Luxembourg S.A.