Options to proceed with rights issue

The Board of Directors of Options Cassoulides Plc decided to call for an Extraordinary General Meeting on September 20, 2007 at 16.00 at the Company’s Head Office to examine and approve the following resolutions:

1. Issue of Rights to the ratio of 1 Right for every existing share.  Every 4 Rights exercised at the price of EUR0.50, they will be converted into 1 share. 

2. Issue of warrants to the ratio of 1 warrant for every five existing shares with an exercise price of EUR1 and an exercise date in October 2009. 

3. Issue and allocation of 4,635,475 new shares to Aspis Holdings Public Company Ltd or any other subsidiary of Aspis Holdings Plc at the price of EUR0.50 per share.

The warrants will be allocated to the existing shareholders at a date to be determined after the EGM approval and before the issue of Rights and the allocation of shares to Aspis Holdings, which will not participate in the rights issue.