EUROPEAN RELIANCE S.A. (the Company) announces, ιn accordance with the provisions of Laws 3340/2005 and 3556/2007, of Decision 1/434/3.7.2007 and Circular Nr 33 of the Hellenic Capital Market Commission that on 20th May, 2008, "HORIZON S.A.", a legal entity which is closely associated to the Non-Executive member of the Board of Directors Mr. Theodoros Axis, bought 3.000 common shares of the Company of total value Euro 8.038,00.