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, SIDENOR SA would like to inform the investor community that:

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

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

c) SIDENOR Group revenues in Cyprus in 2012 amounted to 2.55% of the Group turnover.

d) As regards, the commercial activity in Cyprus, no effect is expected in the Group's turnover, net income and financial position, since, in case of decrease of sales in Cyprus, the volumes could be directed to other markets of equivalent financial contribution.

Also, the Group holds a minority stake (45%) in Domoplex Ltd in Cyprus and in the idle companies Bozetti Ltd and Jostdex Ltd, which are not expected to affect the Group financials.

e) It is noted that the Group's current receivables amount at 4 mil euro and the current liabilities at 2.4 mil euro, for which the Group expects to be fulfilled normally.

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