Statement by the Legal Advisor or Olympiacos BC

The legal advisor of Olympiacos BC Mr. Dimitris Passas, made the following statement in regard to the "supposed" victory of Panathinaikos BC.

"It seems that the legal representatives of PAO BC desperately feel the need to celebrate a judicial success against Olymiacos and its owners. Hence, they rush to call a "victory" a temporary order of the Appellate Court, which they secured claiming that they did not have the time to change the shareholders' roster of the Company and hence file the necessary documentation with the Professional Sports Committee in time in order to receive the necessary certificate that validates their participation to this season's league. Meaning, all the above were claimed for a reason totally irrelevant to the substance of the case at hand and of course without a hearing for Olympiacos BC claims. All the more, contrary to their public allegations, the Court's temporary order suggests that the rest of the claims made by PAO BC are unsubstantial in regard to the Committee's decision and were thus denied. So it's better for them not to rush and at least try to accurately present the context of the court's decisions. There is no doubt that the obvious image transfer of Mr. Giannakopoulos' shares to his employee will be confirmed by the Greek justice system".