QVT holds 10.61% of the share capital of Orphanides

Orphanides Public Company Limited announces that pursuant to Law 190(I)/2007 it has been informed by QVT Fund LP that with the acquisition of 34,382 shares in the Company’s capital on April 17, 2008, the stake of QVT Fund LP reached 10.01409%. On May 16, 2008, QVT Fund LP held 10.61% of the share capital of Orphanides Public Company Limited.