In response to the letter sent by the Hellenic Capital Markets Commission under protocol number 3656/19.9.2012, in view of a publication in the electronic newspaper “Euro2day” of Wednesday 19^th September, 2012 under “Folli Follie: the dessous for the sale of HDFS ”the Company announces that it insists in its previous announcement to the public of September 10, 2012 and wishes to repeat that the negotiations and discussions in relation to the business unit of Duty Free Shops are under way without however any agreement being reached so far between the parties.

The Company wishes to clarify that the publications of the last days are also partial vis-à-vis its business strategy and may harm the negotiation process which is under way. The Company wishes to make clear to any party that it will proceed to official announcements according to the law.