S&B Industrial Minerals S.A. (the Issuer), pursuant to the provisions of article 14 of Law 3556/2007, article 10 of Law 3340/2005, as currently applicable, and in conjunction with the relevant decisions of the Hellenic Capital Market Commission and the notifications and relevant TR-1 form received by the Issuer on 21 June 2012, announces the following:

1.   By virtue of an over-the-counter transaction on 20 June 2012, Mr. Ulysses P. Kyriacopoulos transferred 115,000 common, registered vote-bearing shares of the Issuer to High Gate Holding S.A. as a contribution in kind in the context of a share capital increase of the above-mentioned company.

2.     High Gate Holding S.A., a legal entity based in Luxemburg and controlled by its sole shareholder Mr. Ulysses P. Kyriacopoulos, acquired from the latter by virtue of an over-the-counter transaction on 20 June 2012, 115,000 common, registered vote-bearing shares of the Issuer, representing 0.23% of its total share capital and voting rights. The acquisition of the said shares took place in the form of a contribution in kind in the share capital increase of High Gate Holding S.A. By this acquisition, the direct participation of High Gate Holding S.A. in the total share capital and voting rights of the Issuer surpassed 10%.

Based on the transaction that was notified to the Issuer on June 21, 2012 by High Gate Holding S.A., by means of the TR-1 Notification form that was submitted to the Issuer, the number of shares and voting rights of High Gate Holding S.A. in the Issuer's share capital amount to 5,112,067 (i.e., 10.0020% of the total share capital and voting rights of the Issuer), from 4,997,067 (i.e., 9.78% of the total share capital and voting rights of the Issuer) before the said transaction. It is hereby clarified, that all the voting rights in High Gate Holding S.A. are controlled by Mr. Ulysses P. Kyriacopoulos.

The above mentioned transactions have been duly notified to the Issuer on 21.6.2012 pursuant to article 13 of Law 3340/2005, by Mr. Ulysses P. Kyriacopoulos in his capacity as Chairman of the Board of Directors of the Issuer and by the company High Gate Holding S.A., a related legal entity to Mr. Ulysses P. Kyriacopoulos.