At the same time, the general meeting decided on the increase of the share capital of the company by 3,9 million euros with an equal capitalization of a portion of the account "premium on issue of shares" and a subsequent issuing of 11.824.350 new shares, of 0,33 euros nominal value each. The new shares will be distributed free of charge to the shareholders, a new one in proportion to every old one. It is noted that the new shares will not be entitled to a dividend payment of the financial year 2007.

In the mean time, the annual financial statements were approved unanimously in accordance with International Financial Reporting Standards, for the financial year 1/1-31/12/2007, as well as the reports of the Board of Directors and the Auditors for this financial year.

Furthermore, the General Meeting approved the replacement of the member of the Board of Directors, Mr. Anastasios Kiriakidis by Mr. Konstantinos N. Koukountzos. Mr. Konstantinos N. Koukountzos holds at the same time the position of the general manager. The new member is added to those already existing and his terms of office will end simultaneously with the rest of the member of the Board, ie at 30/6/2009. Additionally the G.M. approved the amendment of the articles of association, aiming at the harmonization with the new provisions of law 2190/1920, as amended by law 3604/2007.

During the general meeting, the president of Kleemann group, Nikolaos K. Koukountzos, expanded on the plans of the group regarding internationalization, its entering into new markets and the acquisition of an increasingly bigger share globally.

Expansion

The company's targets include:

· The strengthening of its position in the markets where the company has a vigorous presence, such as the UK, Germany, Belgium, Turkey, Ireland, Russia, Ukraine and the Balkans.
· The enforcement of its subsidiaries KLEFER, KLEEMANN ASANSOR, KLEEMANN LIFTOVI, KLEEMANN LIFT Ro and MODA CABINA.
· The development of new commercial networks in the markets of Europe and the Middle East.
· At the same time, showing great interest on that, it observes the dynamic market of China, in which a Company's office is in operation, since 2006.

Investments

The group has already started carrying out a three-year period (2007 - 2009) investment plan of approximately 16,50 million euros that concerns mainly the construction of new industrial building facilities, the acquisition of new mechanical equipment of advanced technology, the acquisition of computer systems, the development of an innovative system of electronic sales and the construction of a multi-level testing tower for the development of high-speed and high-rise elevator systems.

Planned investments regard primarily the parent company KLEEMANN and secondarily its subsidiaries.