PRIVATIZATION OF HELLENIC PETROLEUM WASCANCELLED

A&G Information Services, February, 2003

A&G Information Services 02-10-2003 PRIVATIZATION OF HELLENIC PETROLEUM WASCANCELLED ST.PETERSBURG, RUSSIA, FEB 10, 2003 (A&G News via COMTEX) -- Thegovernment of Greece announced cancellation of atender for sale of 23,17% shares of the oilrefining company Hellenic Petroleum. HP- is thelargest Greek oil refining company.

It controlsabout 60% of the market of oil products inGreece. The only candidate for these shares wasa consortium of the Russian company LUKOIL andthe Greek Latsis Group. Greek authorities werenot satisfied with the offered price- 454million euro. URL: http://www.aginform.com Copyright 2003 A&G Information Services (via Comtex). All rights reserved