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Woolworth (Cyprus) Properties PLC

Business and Financial Review May 24, 2018

2498_bfr_2018-05-24_865a69af-56e6-4f66-aaf3-4174487bd978.pdf

Business and Financial Review

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ANNOUNCEMENT

Woolworth (Cyprus) Properties Plc announces that, within the framework of its strategy for better utilization and increase of the value of its properties, it has undertaken a study on the prospect of erecting a multi-storey tower with luxury apartments by its subsidiary LBSP Limassol Beach & Seaview Properties Ltd in its own property on Limassol's seafront promenade. For this purpose, it has applied for a town planning permit, upon the issuance of which the Company will make a detailed announcement.

Nicosia, 24 May 2018.

For Woolworth (Cyprus) Properties Plc

George Mitsides, Company Secretary.

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