• Turnover up 86% in the First Semester of 2011

• EBITDA up 35%

• First Substantial Contribution in Turnover – Profits from the Energy Sector

• Exports Exceed 80% of Total Sales

In the 1st Semester of 2011 the Group posted a strong increase of business volumes, favoured by the strong performance of the its subsidiary METKA, which is accelerating the implementation of its projects abroad, and by the increased production of metallurgy sector and demand for aluminium in the international markets. However, 2011-Q2 is a turning point for the MYTILINEOS Group, as it marks the first substantial contribution of the Energy Sector, a development that serves as proof of the Group’s commitment to the realisation of large investments in this specific area. The maturing of the Group’s energy portfolio paves the way for the continuation of its growth and for progressively increasing financial benefits in the following period.

In particular, the Group’s consolidated turnover for 1H 2011 stood at €711 million against €383 million for the same semester in 2010. This substantial increase by 86% was due to the growth posted in all three of the Group’s core activity sectors (Metallurgy – Energy – EPC Projects).

Earnings before tax, interest, depreciation and amortisation (EBITDA) stood at €107.0 million, up from €79.0 million for the same period in 2010, while it is the first time that the operation of the Group’s thermal plants is directly reflected in the Group’s profitability. Net profit after tax and minority rights stood at €30.5 million against €25.1 million for the same semester in 2010, despite the significant burden of the regular and extraordinary tax levied and by the increased financial costs due to the rise in interest rates.

It should be noted that, to ensure comparability, the figures given above for turnover and operating results before tax for 1H 2010 do not include €32.4 million of non-incurring income, representing discounted income from projects of ETADE S.A., a METKA subsidiary sold to TERNA S.A. in January 2010. The corresponding impact on net profit for 2010 stands at €14.6 million.

The Group’s Metallurgy & Mining Sector posted an increase of 18% in turnover, due to the increased sector’s production and the rise in aluminium prices (up 19.8% compared to 2010). The increase of the price for aluminium in the LME helped offset the significant cost pressures brought about by the rise in energy and raw materials costs and the weakened USD/Euro parity.

The EPC Projects Sector posted the strongest growth of business volumes in 1H 2011, as the turnover of the Group’s subsidiary METKA climbed to €477.8 million against €224.1 million for the same period in 2010. This increase is attributed to the significant acceleration of the implementation of signed contracts abroad. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at €72.2 million, up from €41.2 million last year, with the EBITDA margin standing at a satisfactory level (15.1%). As regards net profit, this stood at €49.6 million against €21.8 million in the first semester of 2010.

It should be noted that, to ensure comparability, the figures given above for turnover and operating results before tax for 1H 2010 do not include €32.4 million of non-incurring income representing discounted income from projects of ETADE S.A., a METKA subsidiary sold to TERNA S.A. in January 2010. The corresponding impact on net profit for 2010 stands at €26.6million.

For METKA, the significant growth of business volumes continued into 2011-Q2, driven by the acceleration in the implementation of projects abroad, especially in the rapidly developing market of Turkey. Contract implementation is progressing quickly, with METKA now focusing on seeking actively for new projects, in order to increase further its signed backlog, currently standing at nearly €1.9 billion.

In the Energy Sector, the Group’s power plant in Ag. Nikolaos (Viotia), officially recognised as Europe’s most efficient combined cycle plant, entered successfully into commercial operation. This success was made possible by METKA, which proves once more its advanced know-how, and demonstrates the tangible synergies available at the Group level. The contribution of the Energy Sector to the financial results of the Group, and during the rest of the current accounting period, is expected to be very significant, as the Group also benefits from the favourable prices in the spot market for Liquefied Natural Gas (LNG), improving substantially the produced electricity cost.

It is pointed out that the commencement of operation of the KORINTHOS POWER plant, expected to take place during 2011-Q3, will bring the Group’s installed capacity of thermal plants up to 1,200 MW. The operation of all three thermal plants will mark the completion of the first phase of the Group’s investment plan and will create the conditions that will allow the Group to expand its market share and consolidate its position in the Greek energy market, in which it is now ranked 2nd, next to the PPC.

The results for the 1st Semester of 2011 will be presented in more detail in a conference call with market analysts and institutional investors, to be held tomorrow, Thursday 4 August 2010, at 17.30 hrs (Greek time).

For more details, please contact:

Mrs Katerina Mouzouraki, Group Press & Media Relations Supervisor (Tel.: 210-6877484, Fax: 210-6877400, e-mail: katerina.mouzouraki@mytilineos.gr).

MYTILINEOS Group is a leading Greek industry active in Metallurgy & Mines, Energy and EPC Projects. Established in Greece in 1990, the Group’s holding company, MYTILINEOS HOLDINGS S.A., is listed on the Athens Exchange, has a consolidated turnover in excess of €1 billion and employs some 2,500 people directly and many more indirectly in Greece and abroad. For more details, please visit the Group’s website at: www.mytilineos.gr.