Changes in the Board of Directors

of HERACLES GENERAL CEMENT COMPANY

The Heracles Board of Directors in its meeting of September 29^th 2015 received and accepted the resignation of Mr. Jean-Charles Blatz and elected as a new member Mr. George Michos, according to articles 11 and 18 of the Company 's Articles of Association and the relevant decision of the General Assembly of the Shareholders of 18.6.2015, for his remaining term in office, i.e. until the Ordinary General Assembly of 2018 which will assess the actions of the fiscal year 2017. The election of the new member will be ratified by the first convened General Assembly (Ordinary or Extraordinary).

The Board of Directors of the Company was constituted into body as following:

Chairman of the Board     Panagiotis (Takis) Athanasopoulos, Professor Emeritus of the University
                                     of Piraeus, non executive member

Vice Chairman                Jean-Claude Block, Group Senior Vice President Finance Operations, Lafarge SA,
                                     non-executive member

Managing Director           Pierre Deleplanque, executive member

Members                        George Michos, Senior Vice President Concrete Lafarge S.A., non executive
                                     member             

                                      Neil Curtis, Deputy General Counsel Lafarge SA, non executive member

                                      Andreas G. Andreopoulos, Professor in Νational Technical University of Athens,
                                      School of Chemical Engineering, independent, non executive member

                                      Aristotelis (Aris) Kallipolitis, Dr Chemist, Business Executive, independent,
                                      non executive member

Τhe term of duties of the abovementioned members of the Board of Directors, according to article 11 of the Articles of Association of the Company, expires on 18.6.2018, and may be automatically extended until the Ordinary General Assembly of the year 2018, which will decide regarding financial year 2017.

Following the above, the Heracles Board of Directors received and accepted the resignation of Mr. Pierre Deleplanque as Managing Director of the Company as of 1.10.2015 and elected as a new managing Director Mr. George Michos as of 1.10.2015.

Mr. George Michos, 45 years old, has 11 years of experience in LafargeHolcim. Ηe started his career in Lafarge in 2004 as Marketing General Manager in HERACLES GCCo. In 2008 he undertook the duties of Chief Operating Officer Lafarge Cement India. In 2011 held the position of Senior Vice President Cement Strategy and M&A at LAFARGE Group headquartes  in Paris and as of 1.1.2013 he held the position of Senior Vice President Concrete LAFARGE SA.  

Mr. Pierre Deleplanque is appointed Area Manager Emerging Europe in LafargeHolcim Group, effective Οctober 1, 2015.The Board of Directors thanked Mr. Pierre Deleplanque for his contribution to the Company as a Managing Director from October 1, 2008 to date, congratulated him for his new role at LafargeHolcim Group and appointed him as non executive member of the Board of Directors as of 1.10.2015.

So, the composition of the Board of Directors of the Company as of 1.10.2015 will be the following:

Chairman of the Board      Panagiotis (Takis) Athanasopoulos, Professor Emeritus of the University
                                       of  Piraeus, non executive member

Vice Chairman                  Jean-Claude Block, Group Senior Vice President Finance Operations, Lafarge SA,
                                       non-executive member

Managing Director             George Michos, executive member

Members                          Pierre Deleplanque, Area Manager Emerging Europe LafargeHolcim,
                                        non executive member

                                       Neil Curtis, Deputy General Counsel Lafarge SA, non executive member

                                       Andreas G. Andreopoulos, Professor in Νational Technical University of Athens,
                                       School of Chemical Engineering, independent, non executive member

                                       Aristotelis (Aris) Kallipolitis, Dr Chemist, Business Executive, independent,

                                       non executive member

Τhe term of duties of the abovementioned members of the Board of Directors, according to article 11 of the Articles of Association of the Company, expires on 18.6.2018, and may be automatically extended until the Ordinary General Assembly of the year 2018, which will decide regarding financial year 2017.