Ellinas Finance Public Company LTD

Share Issue/Capital Change • Nov 1, 2016

October 31, 2016

Cyprus Stock Exchange Nicosia

ANNOUNCEMENT

Subject: Decisions of the Extraordinary General Meeting of the shareholders of Ellinas Finance Public Company Ltd

At the Extraordinary General Meeting of the shareholders of Ellinas Finance Public Company Limited (the "Company") held on October 31, 2016 at the headquarters of the Company, the shareholders unanimously adopted the following special resolution:

Special Resolution

«That the Company's share capital is reduced as follows:

• I. The share nominal value decreased from €0.58 each share to €0.45 each share because the amount of €0.13 per issued and fully paid share, total amount of €2,080,000.00, was lost.
• II. The Company's authorized share capital is reduced from €32,222,221.90 divided into 55,555,555 ordinary shares of €0.58 each, to €24,999,999.75 divided into 55,555,555 ordinary shares of €0.45, each.
• III. The Company's issued share capital is reduced from €9,280,000.00 divided into 16,000,000 ordinary shares of €0.58 each, to €7,200,000.00 divided into 16,000,000 ordinary shares of €0.45, each.

Ordinary Resolution

I. As immediately after the approval of the District Court of Nicosia regarding the reduction mentioned above in the special resolutions, the Company's authorized share capital increase from €24,999,999.75 divided into 55,555,555 ordinary shares of €0.45 each to €32,222,222.10 divided into 71,604,938 ordinary shares of €0.45 each, with the creation of 16,049,383 new shares with a nominal value of €0.45 each, which have the same rights as the existing shares."

Resolutions are subject to ratification of the District Court of Nicosia, registration at the Registrar of Companies and the completion of the procedure through the CSE.

Sincerely,

Constantinos Servos, Compliance Officer

CC.: Cyprus Securities and Exchange Commission