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 according to the decision of 6/9/2013 of the Board of Directors, Mr. Nikolaos M. Stasinopoulos was elected as a new non-executive member in place of the resigned member Mr. Reinhold Wagner. By the aforementioned decision Mr. Nikolaos M. Stasinopoulos was appointed chairman of the Board of Directors of the Company.

The new Board of Directors consists as follows:

1. NIKOLAOS STASINOPOULOS, Chairman, Non‐executive member

2. DIMITRIOS KYRIACOPOULOS, Vice‐chairman, Executive member

3. KONSTANTINOS KATSAROS, Executive member

4. NICHOLAS KOUDOUNIS, Executive member

5. MICHAEL STASINOPOULOS, Executive member

6. MILTIADIS LIDORIKIS, Non‐executive member

7. ANDREAS KYRIAZIS, Independent, Non‐executive member

8. KONSTANTINOS BAKOURIS, Non‐executive member

9. ABRAHAM MEYIR, Non‐executive member

10 KONSTANTINOS KOUKLELIS, Non‐executive member

11. GERARD DECOSTER, Independent, Non‐executive member