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Peter Reiniger
Business Group Director
Energy and Telecommunications


Ana Colovic
Eko-svest Macedonia
11 Octomvri 125/12
1000 Skopje
Macedonia

8 September 2005

Dear Ms. Colovic,

Thank you for your enquiry regarding the Thessaloniki-Skopje Crude Oil Pipeline Project. As highlighted in the Bank's Public Information Policy approved by the Board in 2003, commercially sensitive information must be treated in confidence, particularly for operations in the private sector. This is to ensure that mutual trust is observed in all the Bank's transactions.

It is for this reason that the Bank cannot comment in respect of the provisions of the Loan Agreement for this project. Nevertheless, as you know, Hellenic Petroleum is a publicly-listed company and regularly publishes financial and other information on its website and through other means. The Bank receives such information in the ordinary course of business. We have been advised that you are welcome to contact:

Dr M Myrianthis
Hellenic Petroleum S.A.
17km National rd.,
Athens – Korinthos
GR-193 00 Aspropyrgos
Fax: 0030210 5576423
http://www.hellenicpetroleum.gr/english/investors/investors.htm

regarding the information that you have mentioned concerning that company and its subsidiaries.

I hope this will help you with your enquiry.

Best regards,
Peter Reiniger

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