PRESS RELEASE

Acquisition of equity interest

ELASTRON S.A. – STEEL SERVICE CENTER informs the investment community that its Board of Directors decided the acquisition of TATA STEEL's equity interest in CORUS KALPINIS SIMOS S.A. (“CKS”). CKS was founded in 1999 and has been the first 50/50 joint venture (JV) between ELASTRON and TATA STEEL. Having its headquarters in the Aspropyrgos area the company's scope of activities extends in the production of modern steel building materials (thermal insulated panels) for cladding and building facades. The aforementioned acquisition is in the context of Elastron's strategic planning for the concentration of operations under common management through which economies of scale are anticipated. Upon completion ELASTRON group will fully manage the largest variety of steel products in the Greek market. The acquisition cost will amount to 700 k euro and it's considered fair based on the company's valuation and current market conditions. It is noted that TATA STEEL continues to have presence in the market through TATA ELASTRON S.A. in northern Greece, which is the second 50/50 joint venture (JV) with ELASTRON S.A.