“ELVAL S.A. – HELLENIC ALUMINIUM INDUSTRY” announces that according to the item 2 of the agenda of the Extraordinary Shareholders Meeting which will take place on 24^th November 2014, the change of the article 5 of the companys statute will be proposed as follows:

Article 5

20) By decision of the Extraordinary Meeting of Shareholders, held on November 24, 2014, the Companys share capital, is increased:

a)   by Euro 2,718,290.80, due to the absorption of the company “ETEM S.A., LIGHT METALS INDUSTRY S.A.”, according to the provisions of art.68 para.2 and 69-77a of Law 2190/20, the commercial law on companies and the provisions of art.54 of Law 4172/2013,

b)   by Euro 231,388.54 by capitalizing taxable reserves, according to the Article 72 of Law 4172/2013,

by increasing the nominal value of the Companys shares, from Euro 0.30 to Euro 0.32 each and the issuance of 1,461,447 new shares, of a nominal value of Euro 0.32 each.

Thus, the Companys share capital amounts to Euro forty million, one hundred seventy nine thousand, nine hundred twenty three and eighty four cents (Euro 40,179,923.84), divided in one hundred twenty five million, five hundred and sixty two thousand, two hundred and sixty two shares (125,562,262), of a nominal value of Euro 0.32 each