“ELVAL S.A. – HELLENIC ALUMINIUM INDUSTRY” (the Company) announces, according to the article 5.2 of the Regulation of the Athens Exchange, that the Annual General Shareholders Meeting on 27th May 2014 approved the distribution of tax-free reserves, and specifically the payment of an amount of EUR 9,928,065 or euro 0.08 per share. The above amount has derived from the separate taxation, which exhausts any other tax obligation of the Company and the shareholders, and the subsequent distribution of tax-free reserves, which had been formed on the basis of the Law 2238/1994, and according to the article 72 of Law 4172/2013.

Friday, 30th May 2014 was set as the ex-dividend (cut-off) date. It is clarified that according to the Regulation of the Athens Exchange, corporate actions are implemented on the basis of the “record date” and as result beneficiaries to the corporate action (in the specific case to the tax-free reserves distribution) are investors registered in the Dematerialized Securities System (DSS) records as of the record date. Therefore, beneficiaries to the receipt of the above distribution will be the shareholders registered in the Company's records in the DSS at the record date, namely on Thursday 3 June 2014.

The payment of the tax-free reserves distribution will commence on Tuesday, 10th June 2014, and will be processed by the bank “ALPHA BANK SA” as follows:

1. To the users in the DSS (Depositaries – Brokerage Firms) for those shareholders who have declared to the Central Securities Depository that their users have the authorization to receive the payment on their behalf.

2. To the shareholders for the portion of their portfolio held under the operation of the Central Securities Depository or when they haven't supplied or withdrawn the authorization of an operator to receive the amount.

The payment of the shareholders will be effected by the turnout at the Bank's “ALPHA BANK SA" branch network by showing their identification card and the presentation of DSS printed data or by legally authorized persons who will present written authorization, certified for the authenticity of the beneficiary shareholder's signature. The payment period shall be one year from the commencement of payments.

For additional information, shareholders are requested to communicate with the Company's IR Department, tel. +30 2262053354.