Philoktimatiki Public LTD

Regulatory Filings • Nov 24, 2015

PHILOKTIMATIKI PUBLIC LTD

24 November 2015

CEO Cyprus Stock Exchange Nicosia

Dear Sir,

Distribution Agreement of "Lakkos Mikelli" Estate

Philoktimatiki Public Ltd announces that on 23 November 2015 the co-owners of the big estate "Lakkos Mikelli" signed a Distribution Agreement between themselves, resolving the longstanding problem of the estate's ownership status.

The co-owners have agreed to the immediate promotion of the issue of the required plot division permits as well as of the construction works in the road network in view of the issuance of separate title deeds.

Philoktimatiki Public Ltd participates by 20% in Lakkos Mikelli Real Estate Ltd, which is the major co-owner with a holding of 45.5% in "Lakkos Mikelli" estate with an area of 220.590m²at the south entrance of Nicosia.

The said Agreement represents a significant positive development in the management, exploitation, disposal and value of the share that Lakkos Mikelli Real Estate Ltd holds in the estate.

(sgd) Makarios Charalambides General Manager/Executive Director

cc. Cyprus Securities and Exchange Commission