INTERCONTINENTAL INTERNATIONAL

ANNOUNCEMENT OF BUSINESS DEVELOPMENT

Intercontinental International REIC S.A. hereby informs the investors that it acquired a 2 level retail store, consisting of 218sqm, as well as a warehouse of 3sqm, in Kolonaki area, 7 Spefsippou Street (Athens center). The tax value (objective value) of the specific asset is 1,692,456.00 euro. The acquisition price was 550.000,00 euro. The investment was funded by the Company's Equity.