ANNOUNCEMENT

With the purpose of informing its investors ELLAKTOR presents an announcement by the company's subsidiary, AKTOR S.A.:

“STATEMENT –- ANNOUNCEMENT

With regard to press reports on the prosecution against executives of ERGOSE and our company, for the execution of the tunnel construction project in Lianokladi, we would like to inform you of the following:

1) According to undeniable data provided by an International Audit Firm, the cost of the project in dispute (up to 30.9.2012) amounted to € 172,690,294, and of this amount AKTOR received € 160,181,210, with resulting losses of € 12,509,084.

2) It is therefore a paradox to look for criminal liabilities for a project, which is in fact in progress, from which our company suffered an undeniable loss.  We believe that the relevant expert opinion report by the Technical Chamber of Greece committee, which is the State's technical advisor, will justify our position.

3) The prosecution  proceedings were brought up, unfortunately, because an Inspection Report by the General Inspector of Public Administration unilaterally adopted the opinions of the project's designer, who is in a dispute with ERGOSE with claims for many millions of euro, without  the authors of this report to feel the need to invite our representatives and be fully informed of our positions, which fully overturn their conclusions.

4) Based on the official available information, we are certain that the anticipated expert opinion will justify our position and the investigation to follow will prove that we have no liability or illegal gains, in order to put an end to this case as soon as possible.”

Kifissia 24.1.2013