Sfakianakis S.A. pursuant to the obligations deriving from Law 3340/2005 and Article 2 of Decision 3/347/12.07.2005 of the BoD of the HCMC informs the investing public that after the inauguration of CFO by Mr. George Koukoumeli, Company's BoD accepted the resignation of Mr. Nikita Pothoulaki, non-executive member, in the place of which elected Mr. Peter Leon. Following these changes, and according to decision of the BoD made on 24.02.2012, Company's BoD has been recomposed as follows:

 1. Stavros Taki                          President & CEO, Executive Member

 2. Miranta-Efstratia Sfakianaki                Vice-President, Alternate CEO & General Manager, Executive Member

 3. Nikolaos Patsatzis                            Executive Member

 4. Dimitrios Hountas                              Executive Member

 5. George Gardelis                                Executive Member

 6. Aikaterini Sfakianaki                          Non-executive Member

 7. Athanasios Platias                            Non-executive Member

 8. Peter Leon                                        Non-executive Member

 9. Christophoros Katsambas                  Independent Non-executive Member

10. George Taniskidis                             Independent Non-executive Member

Moreover, under the provisions of Article 7 of Law 3016/2002 of Corporate Governance and Article 37 of Law 3693/2008 Mr. Peter Leon is elected as member of the Audit Committee. Consequently, the new three-member Audit Committee is composed of Mr. Christophoro Katsamba, George Taniskidi and Peter Leon.