ANNOUNCEMENT

In compliance with the provisions of Article 2 par.2 of the decision of the Hellenic Capital Market Commission No. 3/347/12.07.2005, SIDENOR S.A., hereby informs investors that in the framework of rationalization of its production and taking into account the ongoing economic crisis in Greece, SIDENOR S.A. hereby informs investors that the Extraordinary General Shareholders meeting of the subsidiary company VET S.A. held on 30.04.2012 has decided unanimously the immediate shut down of its plant which is located in the area of Glyfa in Halkida.

The shut down of the aforementioned plant shall have no material effect on the consolidated financials of SIDENOR group.