• A positive third quarter with quarterly EBITDA reaching €40.8m 
• Significant reduction in consolidated net losses in the 9M2011 compared to 9M2010
• First signs of positive trends in financial performance

 ATHENS – Marfin Investment Group (MIG) announced today its Nine Months 2011 results.  The uplift in subsidiary company performance for the third quarter resulted in improved financial results; the group reported consolidated sales for the third quarter of €450.8m (representing a 10.3% increase over the previous quarter which stood at €408.6m) and Q3 EBITDA of €40.8m vs. €10.0m in Q2 (representing a 307.9% increase over the previous quarter).  Gross profit for the third quarter rose to €110.1m, compared to €73.5m in the second quarter (representing a 49.8% increase over the previous quarter).  Consolidated sales for the nine months amounted to €1,208.8m, compared to €1,355.7m in 9Μ 2010, and the consolidated loss after tax and minority interest from continuing and discontinued operations stood at €125.4m, recording a significant improvement from the comparable losses excluding impairments of €223.9m recorded during the same period last year.  At company level, losses for the nine months amounted to €6.6m.  The net asset value (NAV) of the group currently stands at €2.0bn, representing a NAV of €2.55 per share despite sharp market declines. Finally, current cash at company level amounts to €267.4m.
This year has been strongly affected by the continued turmoil in the political and economic health of Greece, which only worsened during the third quarter.  Despite this general instability in the country, many of MIG's companies have been able to further strengthen and maintain their market leading positions, while bringing new innovations to the market.  Furthermore, the third quarter has brought with it the first signs towards positive trends in performance.
Commenting on the 9M results, Dennis Malamatinas, Marfin Investment Group's Chief Executive Officer stated: “With these stronger operational results in the third quarter of the year, the group's companies have shown the first signs of improving financial performance despite the contracting market and a continuous recession in the domestic environment.  Our companies continue to maintain their leading market positions, and most importantly, continue to outperform their peers during these difficult times.  The Group has recently embarked in management restructurings across a number of portfolio companies for the better implementation of our strategy concentrating on cost containment and return to profitability. In addition, upon completion of the convertible bond issuance announced on the 1^st of November, the Group will be positioned to solidify its market presence and capitalize on significant emerging investment opportunities. Finally, our recently announced strategic agreement with Abu Dhabi Mar/Privinvest Group of companies demonstrates the confidence in the Group's management, adopted strategy and its prospects going forward.  The new investor alongside Dubai Group as well as other core shareholders of the Group will add significant value to MIG' s efforts to pursue investment opportunities in Greece and Cyprus and deliver long term value to all our shareholders.”

Contacts:

Investor Relations: +30 210 350 4064, +44 207 054 9280
About MIG:  Marfin Investment Group Holdings S.A. is an international investment holding company based in Greece and throughout Southeastern Europe.  The Company believes it is uniquely positioned to take advantage of an expanding array of investment opportunities in this region; opportunities in which traditional investment vehicles lacking MIG's regional focus, scale, expertise, and/or its investment flexibility and financial resources, may find difficult to identify and exploit.  MIG is quoted on the Athens stock exchange and has a portfolio of leading companies in sectors across the SEE region, grouped into Food & Beverages, Healthcare, IT & Telecoms, Transportation & Shipping, Real Estate, Tourism & Leisure, Environmental, and Financial Institutions sectors.  Included amongst its portfolio and subsidiary companies is Vivartia, a leading food and food retail business in the region; Attica Group, a leading passenger ferry operator; Olympic Air, Greece's national flag carrier; the Hygeia Group of hospitals, a leading private hospital group in Greece, Cyprus and Albania; Marfin Popular Bank; SingularLogic, the leading IT operator in Greece; and RobneKuce Beograd, the largest chain of department stores in Serbia.  The company has been listed on the Athens Stock Exchange since July 2007.