The Company's Board of Directors would like to announce, pursuant to L. 3340/2005 and article 2 of the Hellenic Capital Market Commission under nr. 3/347/12.07.2005, that during its meeting of 12.10.2012 and pursuant to the Company's recent agreement with Dufry AG, a resolution has been adopted, according to which it has been decided to initiate the carve-out of the Company's travel retail business and to contribute same to the Company's 100% subsidiary under the name “Duty Paid Shops S.A.”, pursuant to  C.L. 2190/1920 and L.D. 1297/1972 and the commercial and capital market legislation in general. According to the same resolution of the Company's BoD, the 30.9.2012 has been set as the date of the Carve-Out Balance Sheet and Messrs. Panagiotis Vroustouris (Registry Nr. 12921) and Dimitrios Drosos (Registry Nr. 31371), both independent registered public accountants and members of the Auditing Company “ENEL SA” have been appointed to proceed to the evaluation of the business's assets pursuant to article 9 of the C.L. 2190/1920.

Aghios Stefanos, 12.10.2012