Under Article 2 par. 2, case (e) of Decision No 3/347/12.7.2005 of the Board of Directors of Hellenic Capital Market Commission and pursuant to ATHEX regulation, ELVAL S.A. announces that its B.o.D decided, based on the meeting that took place on 6 September 2012, the election of Mr. Michael Stasinopoulos (executive member) in place of Mr. John Panayiotopoulos. The election will be approved in the Annual General Shareholders Meeting.