MARFIN INVESTMENT GROUP HOLDINGS S.A. (MIG) hereby announces that following the commencement of the legal proceedings against the Republic of Cyprus before the International Arbitration Tribunal claiming the amount of €828m, as well as any other incurred losses related to its investment in CYPRUS POPULAR BANK, said nationalized financial institution filed a lawsuit against MIG before the Cypriot courts claiming an amount of over €2m "reserving its right to specify its claims and losses at a later stage".

The lawsuit against MIG, which was filed before the incompetent Cypriot courts instead of the Greek courts, even though MIG is a société anonyme company incorporated and established in Greece, listed on the Athens Stock Exchange, is full of legal arbitrariness and acrobatics, with the obvious aim of defending the Republic of Cyprus against MIG's legitimate claim which will be ruled by the International Arbitration Tribunal.

MIG believes that the relevant lawsuit against it will not be accepted, while in contrast it believes that the International Arbitration Tribunal will accept its own appeal.