The Hellenic Petroleum Group has embarked on a steady course of transformation. We are adapting our corporate culture and internal processes towards those of private, internationally competitive energy company, while simultaneously transforming our portfolio of activities. We are active in every stage of the energy value chain, expanding our geographic footprint and entering new activities such as oil and gas exploration & production and power generation &marketing.

Hellenic Petroleum is the dominant Greek R&M player. It owns and operates three of the four refineries in Greece and covers 73% of the Greek wholesale oil products market. Hellenic Petroleum also has a 23% share of the retail petroleum products market in Greece through its EKO subsidiary, with more than 1350 retail stations throughout the country and a strong network of LPG, industrial, aviation, marine and lubricants sales.

Hellenic Petroleum has a strong position in R&M in seven countries in the Southeast Europe/ Eastern Mediterranean region. In FYROM, the company owns the sole refinery in the country, while in Cyprus, Serbia, Montenegro, Bulgaria, Albania, and Georgia the company is involved in petroleum products marketing and operates a network of 212 retail stations. Hellenic Petroleum actively promotes the construction of the Burgas - Alexandroupolis pipeline.

Hellenic Petroleum is developing an international E&P portfolio, targeting production of 50 kbd by 2010; it currently has exploration interests in Libya, Egypt, Montenegro and Greece. In Libya, Hellenic Petroleum, in cooperation with Woodside (operator) and Repsol YPF, has exploration rights in six blocks in the Sirte and Murzuk basins with EPSA-3 terms. A 2-rig, 13-well drilling campaign commenced in Libya in 2006 with successful results so far. In Egypt, Hellenic Petroleum was awarded the West Obayed block as operator under EGPC's international bidding round in 2006.

Hellenic Petroleum is the sole petrochemicals producer in Greece, with market shares higher than 50% for all the products it produces or trades in this sector. The key products are polypropylene, BOPP film, PVC, aliphatic solvents and inorganics.

Hellenic Petroleum has a 35% stake in the Greek Public natural gas company (DEPA), which owns the domestic natural gas pipeline grid (including the Revythoussa LNG regasification terminal) and is the only wholesaler of natural gas in the country.

Hellenic Petroleum has recently become active in power generation and marketing in Greece; it owns and operates the first private CCGT power plant in Greece. The gas-fired 9FA turbine plant is located in Thessaloniki, has a capacity of 390 MW, and is in operation since December 24, 2005. Hellenic Petroleum is also active in power trading through imports at the North Interconnection and exports to Italy.

Hellenic Petroleum's shareholders include the Greek State (35.5%), Paneuropean Oil and Industrial Holdings S.A. (35.9%), free float Institutional Investors (16.9%) and free float General Public (11.7%).

Hellenic Petroleum had net sales of EUR 6.65 billion in the year ended December 2005, EBITDA of EUR 671 million, net income EUR 334 million, capital employed of EUR 2.96 billion euros and employed 5,516 people.