Athens, March 27, 2013

Reply to a question from the Capital Market Commission

In response to a relevant question from the Hellenic Capital Markets Commission (ref. no. 1257/27/3/2013), regarding the Group's activities in Cyprus, CORINTH PIPEWORKS SA would like to inform the investor community:

a) There are no bank deposits over €100,000 in Cyprus, in Bank of Cyprus or CPB.

b) CORINTH PIPEWORKS does not hold any stock (bonds or shares) or any other financial instruments issued by Bank of Cyprus or CPB.

c) CORINTH PIPEWORKS' Group revenues in Cyprus in 2012 amounted to 0%.

d) No effect is expected in the Group's turnover, net income and financial position as a result of the recent developments in Cyprus.

The announcement has been issued following a request from Hellenic Capital Markets Commission.