MINOAN LINES SA

ANNOUNCEMENT

Minoan Lines Shipping S.A. announces that following the relevant suggestions of the Hellenic Capital Market Commission, in the framework of examining the parent and consolidated financial statements, having as a purpose the approval of the Company's Prospectus relevant to the share capital increase by cash payment proceeded to the restatement of the financial results for the fiscal year 2012. The aforementioned restatement was carried out without the need of republishing the annual financial statements and it is based on IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors” and referred to the impairment loss of the parent company's available for sale financial asset. Hence, the company proceeded to the republishing of the interim financial statements for the period 01.01.2013- 30.06.2013 (1st semester of 2013), where the restated financial statements for the fiscal year 2012, as defined by the relevant accounting standards, were included. The republished interim financial statements for the period ended on June 30th, 2013 were approved by the Board of Directors meeting on October 7th, 2013 and are uploaded to the company's website (www.minoan.gr) and the Athens Stock Exchange site (www.ase.gr).