Constantinou Bros Hotels Public Company LTD

Management Reports • Jun 11, 2014

11th June, 2014

To: The Cyprus Stock Exchange Attn.: Mr Nondas Metaxas Director General-CEO Nicosia.

Dear Mr. Metaxas,

Subject: Interim Management Statement

Constantinou Bros Hotels Public Company Ltd, announces its Interim Management Statement for the year 2014, covering the period as from 01/01/2013, in compliance with Article 11 of the Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law of 2007 (N .190 (I) of 2007), as follows:

INTERIM MANAGEMENT STATEMENT

The main activity of the Group is still the managing of self-owned hotels in Paphos.

The financial results of the Group for the period from 01/01/2014 up to 31/05/2014 will be at the same levels to those of the year 2013.

The Board of Directors and the Management taking into account the general political and economic instability in Cyprus and the political situation in the wider region of Cyprus, consider that no safe forecast of the expected results for the year 2014 can be made, but it is expected that the occupancy of the hotels will remain the same or even higher, given the collective effort which is being made towards increasing the number of tourists into Cyprus, through promotion of the destination and growth and liberalization of air flights.

During the period under review there had been no other material events or transactions of the Group's activities which had an impact on the financial position of the Group.

The Secretary

A. Anastassiou