EUROPEAN RELIANCE S.A. (the Company) announces, pursuant to the provisions of Law. 3556/2007, L.3340 / 2005, Decision 1/434 / 03.07.2007, the Circular 33 and Decision 3/347 / 12.07.2005 of the Hellenic Capital Market Commission, that during the meeting of the Board of Directors, which held on Monday 23th of May 2016, the board decided unanimously to elect Mr. Keith Morris, as a temporary non-executive - independent member of the Board in replacement of Mr Theodoros Chronis, who resigned on 19 May 2016. Mr. Morris is a graduate of Economics and has many years of experience in the Financial Sector.