GLOBAL NEW EUROPE FUND

Clarification with respect to the limits provisioned in the art.9 of L.3556/2007

By enforcement of the L.3556/2007 and of the Circular no.32 of the Hellenic Capital Market Commission, the Company "Global New Europe Fund Portfolio Investments S.A." informs the investors that, for the calculation of the limits provisioned in the paragr.1 of the article 9 of the L.3556/2007, each liable person, who is a joint owner together with third parties on a common investment account, is obliged to add the voting rights which are embodied on securities in his private account together with the voting rights that correspond to securities that are included in the common investment account of which he is a joint owner.
By enforcement of the L.3556/2007 the same obligation applies to all the others joint owners of the common investment account, given that these persons are the joint owners of the total securities held in the common investment account.