Announcement

The Board of Directors of S&B Industrial Minerals S.A. (S&B) and Greek Helicon Bauxites – G.L. Barlos A.B.E.M.E. (HB), 100% subsidiary of S&B, approved in their meetings held on 18/12/2012 and 28/12/2012, respectively, the spin-off of S&B's bauxite sector and its contribution to HB. The spin-off is an internal rearrangement to serve the rationalization of S&B's Group structure and will not have any impact on financial figures.

The date of transformation (of S&B's financial position) has been set at 31/12/2012 while the spin-off and contribution of S&B's bauxite sector will be realized in accordance with the provisions of L.2166/1993 and C.L.2190/1920.

Based on the latest fiscal data of 2011, sales revenue of the spinned-off sector is less than 30% of S&B Group's total consolidated sales revenue, specifically 7.2%. Therefore, pursuant to the provisions of paragraph 4.1.3.12 of the rulebook of the Athens Exchange the issuance of an information memorandum is not required.

Investor Relations

31 December 2012