Reply to a query from the Hellenic Capital Market Commission  

In response to questions raised in letter Ref. No. 4546/24.11.2016 received from the HCMC following publication on the website www.capital.gr on 23 November 2016 of a report entitled: ‘Prosecution of two construction companies for rigging of public works tenders', we wish to refer to the following:

With regard to the historical details pertaining to the above tenders and in the interests of providing adequate and clear information to the investing public, we refer to the press release of 24 November 2016 issued by our subsidiary AKTOR SA, which is attached hereto.

In addition, we would like to clarify the following:

a. The pursuit of prosecution in rem for the offence of criminal fraud against the state and the conduct of the primary questioning of witnesses to determine the existence of any criminal responsibility of persons in the course of conduct of the two competitive tenders in which our subsidiary AKTOR SA participated, namely the projects a) ‘Expansion of Container Terminal Quay 26, Pier 6, for Thessaloniki Port Authority SA ' and b) ‘Renovation of Infrastructure and Superstructure of the Line and Reinforcement of the Tunnel between Omonoia and Monastiraki belonging to ISAP SA (Piraeus-Kifissia Electric Railway)' is not considered likely to affect the operations or the financial results of the company AKTOR SA or the ELLAKTOR SA group.

 b. There have been no developments whatsoever with regard to the Hellenic Competition Committee's investigation of the circumstances as already explained in detail in our press release of 17 October 2016.

This release is published subsequent to the respective question submitted to the Hellenic Capital Market Commission.

Kifissia, 25 November 2016