Following the relevant letter of the Hellenic Capital Market Commission (Ref. Nr. 1257 dated 27.3.2013) with respect to the recent developments in Cyprus, we would like to inform the investing public about the following:

1. Minoan Lines or any of its subsidiary companies retain no deposits in any bank in Cyprus,
2. Minoan Lines or any of its subsidiary companies are not exposed to securities or financial instruments of any Cypriot bank,
3. During the fiscal year 2012, the Company and its subsidiaries had no turnover in Cyprus,
4. It is expected that there will be no impact on the Company's or any of its subsidiary's revenue, financial results and equity by the events taking place in the banking sector of Cyprus.