By implementation of article 290 of the ATHEX regulation and the article 10 of L. 3340/2005, HELLENIC FABRICS S.A. announces that, in the Annual Ordinary General Meeting of the Shareholders on 23.05.2008, a share buy back program was decided according to the article 16 of L. 2190/1920 for distribution to the company's or its affiliate companies' staff and consultants, as defined by article 42e par. 5 of L. 2190/1920, and is to be implemented according to the following brief terms:
1. Maximum number of shares to be bought must not exceed the percentage of 3% of the company?s shares, i.e. 410,766 shares.
2. Transaction period, for which this approval is administered, is set to 24 months.
3. Purchase value of each share must neither be less than euro 0.50, nor more than euro 5.00.
Distribution is to be performed under the provision and responsibility of the Board of Directors, based on the terms decided by the General Meeting.