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 forms received by the Issuer on 14 June 2012, announces the following:

1.     Blue Water Holding S.A., a legal entity based in Luxemburg and wholly controlled by its sole shareholder Ms Flora Maria P. Kyriacopoulos, acquired from the latter by virtue of an over-the-counter transaction on June 13, 2012, 3,261,650 common, vote-bearing shares of the Issuer, representing 6.4% 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 Blue Water Holding S.A. and had as a result that the direct participation of Blue Water Holding S.A. in the total voting rights of the Issuer surpassed 10%.

2.     High Gate Holding S.A., a legal entity based in Luxemburg and wholly controlled by its sole shareholder Mr. Ulysses P. Kyriacopoulos, acquired from the latter by virtue of an over-the-counter transaction on June 13, 2012, 3,200,900 common, vote-bearing shares of the Issuer, representing 6.3% 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. and has as a result that the direct participation of High Gate Holding S.A. in the total voting rights of the Issuer surpassed 5%.

Based on the transactions that were notified to the Issuer on June 14, 2012 by Blue Water Holding S.A. and High Gate Holding S.A., by means of the TR-1 Notification forms that were submitted to the Issuer, the number of shares and voting rights of the above mentioned shareholders of the Issuer have changed as follows:

1.     After the above mentioned transaction, the number of shares and voting rights that are directly held by Blue Water Holding S.A. amounts to 5,950,474 (i.e., 11.64% of the total share capital and voting rights of the Issuer) as compared to 2,688,824 (i.e., 5.26% of the total share capital and voting rights of the Issuer) before the completion of such transaction. It is hereby clarified, that all the voting rights in Blue Water Holding S.A. are 100% controlled by Ms Flora Maria P. Kyriacopoulos.

2.     After the above mentioned transaction, the number of shares and voting rights that are directly held by High Gate Holding S.A. amounts to 4,997,067 (i.e., 9.78% of the total share capital and voting rights of the Issuer), while before the transaction the voting rights of High Gate Holding S.A. were below the minimum threshold of 5%. It is hereby clarified, that all the voting rights in High Gate Holding S.A. are 100% controlled by Mr. Ulysses P. Kyriacopoulos.