OFFER OF COMPANY SHARES TO COMPANY AND GROUP SENIOR EXECUTIVES IN THE FRAMEWORK OF IMPLEMENTING STOCK OPTION PLANS

 
Titan Cement Company S.A. (the Company), in the framework of implementing the Stock Option Plan that has been introduced for the senior executives of the Company and other companies of the Titan Group in the sense of article 42e of Codified Law 2190/1920 (the 2004 Plan) and has been approved by the General Meeting of Shareholders of 8.6.2004, hereby informs the public of the following: 

1. Company and Group executives who are entitled to stock options on the basis of the above Stock Option Plan are invited to declare in writing to the Company, from 3 to 13 December 2007, their intention to exercise their relevant rights in full or in part.
2. This offer is addressed to 62 senior Company and Group executives, who were granted non-transferable stock options in 2005, which matured following the lapse of a three-year period in December 2007. Beneficiaries include the Managing Director and five members of the Company Board of Directors.
3. The offer concerns 40.270 new registered shares of the Company, the selling price of which has, in accordance with the plan, been set to be equal to the nominal value of the company’s share, namely 2 euros per share.
4. The above number of rights that the beneficiaries are entitled to exercise amounts to 1/3 of the number of rights that were granted to them in 2005 and has been finally decided on by the Company Board of Directors, in accordance with the provisions of the plan, after having compared the average performance of the Company shares with the average performance of pre- elected Athens Exchange indices as well as of shares of other leading companies in the international construction materials sector
5. Within the same deadline, 2 Titan executives are also invited to declare to the Company in writing their intention to exercise, in full or in part, their non-transferable stock options, which were granted to them in 2003 in the context of a relevant plan in the past, which had been approved by the General Meeting of Shareholders on 5.7.2000 (2000 Plan). The said stock options have matured in November 2005, and if they are not exercised within the above deadline, they shall permanently expire. The rights in question concern 6,600 ordinary shares of the Company with a nominal value of two (2) euros each and a selling price of €14.68 per share.
6. Following the submission of their written declarations for the exercise of their rights, the beneficiaries must pay the amount corresponding to the rights exercised by them by 13.12.2007.
7. Thereafter, depending on the number of exercised rights and the timely payment on the part of the beneficiaries of the corresponding amount, the Company Board of Directors shall, at its meeting on 17.12.2007, increase the Company share capital, without amendment of its Articles of Association, pursuant to article 13(9) of Codified Law 2190/1920, and issue new ordinary registered shares. Subsequently, the Board of Directors shall take all legal actions, in accordance with the law in force, in order for the shares corresponding to the exercised rights to be listed for trading on the Athens Stock Exchange.
8. The fully paid up share capital of the Company currently amounts to €168,970,408 and is divided into 84,485,204 registered shares with a nominal value of €2.00 each, of which 76,916,244 are ordinary shares and 7,568,960 are preferred shares with no voting rights.
9. Full description of the Stock Option Plans of 2000 and 2004 is included in the Annual Report of Titan Cement Company S.A. for the year 2006 which can be found on the Company’s website www.titan-cement.com 04.12.2007

The above announcement was notified to the Athens Exchange and was posted on its website.