The Company is pleased to announce that Proton Investment Bank S.A. ('Proton Bank'), in which the Company owns a 20.16 per cent. interest and has appointed six out of the eleven members of the board of directors, on the 27 November 2006 announced the results of its extraordinary general meeting ('EGM') held on 24 November 2006.

The purpose of the EGM was to ratify the election of Loucas Valetopoulos, IRF's chief executive officer, as a non-executive member of the board of directors of Proton and to approve each of the following: the giving of authority to the board of directors of Proton Bank to issue bond loans, the entry into an employee stock option plan, the issuance of Euro medium term notes, the terms of a buy back program and certain constitutional changes to the articles of association of Proton Bank.

All of the resolutions were passed unanimously by those shareholders present and voting.