MARFIN INVESTMENT GROUP (“MIG”) announces that it has reached a strategic understanding with the ABU DHABI MAR / Privinvest Group of companies (“ADM”) in order to jointly pursue and exploit investment opportunities in Greece, Cyprus and the region. 

In this regard it is envisaged that: 

1. ADM will become a shareholder of a to be determined amount of the share capital of MIG and/or a convertible bond investor in MIG as soon as practically possible. Concurrently Mr. Iskandar Safa, Chairman of ADM, will be elected as Vice Chairman of the Board of Directors of MIG.
2. MIG will eventually become an  investor of a to be determined amount of the share capital of HELLENIC SHIPYARDS S.A. / SKARAMANGAS (“HSY”) retaining one board seat of HSY, and will assist in the management of this company. 

Commenting on this announcement Mr. Andreas Vgenopoulos, Chairman of MIG, made the following statement:

 “We consider ABU DHABI MAR / Privinvest Group of companies, led by Iskandar Safa, as a very important strategic investor for MIG.  In this challenging environment our new investor together with MIG's existing shareholders will add significant value to MIG' s efforts to pursue investment opportunities in Greece and Cyprus”.