Frigoglass S.A.I.C (the “Company”) announces that the Ministry of Development proceeded, by virtue of its Decision number K2-8624/22.11.2011, to the registration with the Companies Registry of the Company's Board of Directors Decision dated 14.10.2011 regarding the revocation and cancellation of the share capital increase of 29.06.2011. The above resolution was passed following the revocation on September 8, 2011 of the Athens Stock Exchange Decision dated 05.09.2011 regarding the approval of admission to trading of 76,144 new shares of the Company, which were issued as a result of the aforementioned share capital increase after the exercise of stock options by employees of the Company, due to the non adjustment of the exercise price of the aforementioned stock options.

In specific, the Company's Board of Directors proceeded, by virtue of its Decision on 14.10.2011, with the cancellation and revocation of its Decisions dated 29.06.2011 and 07.09.2011, regarding the Company's share capital increase by the amount of Euro 22.843,20 through the issuance of 76,144 new shares with a nominal value of Euro 0,30 each and a total issuing price of Euro 323,052.92, as well as the corresponding certification of payment, due to the non adjustment of the exercise price of the stock options.

For further information you may contact the Company's Investor Relations Department (Tel.: +30 210 6165767, Mr. John Stamatakos, Investor Relations Manager).