Blue Island PLC

Earnings Release • Oct 31, 2012

31st October 2012

ANNOUNCEMENT

BLUE – Board of Directors approved the Interim Management Statement for the period 1st of July 2012 to 30th September 2012

We wish to inform you that the Board of Directors of Blue Island Plc, at a meeting held today, examined and approved the Interim Management Statement for the second half of 2012 pursuant to the Transparency Requirements Laws 2007 and 2009, which is attatched.

Remaining, at your disposal for any further information/clarifications you might need.

Yours Sincerely,

.............................................. Yiannos Economides Secretary

Blue Island Plc: Interim Management Statement for the period 1st of July 2012 to 30th of September 2012.

The unaudited Interim Management Statement of Blue Island Plc for the period from 1st of July 2012 to 30th of September 2012 is prepared according to Article 11 of the Transparency Law of 2007 and 2009 (L190(I)/2007 & 72(I)/2009).

Sales

Total consolidated sales during the period above were €3.542.765 compared to €3.913.143 during the respective 2011 period. There was a sales decrease of 9,5 %.

The total consolidated sales for the period 1/1/2012-30/9/2012 were €11.513.232 compared to €11.792.221 during the respective 2011 period (decrease: 2,4 %).

As things stand now, it is anticipated that the consolidated sales for the entire 2012 compared to the consolidated sales of 2011 will be approximately 4 % less.

Profitability

The profitability during 2012, is anticipated to be positive

Investments

The investment program of the company proceeds as planned (nine month 2011 investment spenditure: €417.022, nine month 2012 investment spenditure: €630.823). Most of the investments in 2012 were done in the fish farming sector of the company, as well as investments that aimed to increase productivity and decrease risks.

Main Risks and Uncertainties

The main risks that the company faces are the international and domestic price fluctuations due to the competition, the credit risk, the interest rate fluctuations, cash flow risks, as well as risks relating to loss of stocks in the fish farm due to severe weather conditions and/or malicious damages.

All the above risks as well as other risks that the company faces, are fully explained in the Board of Directors report and to note 26 of the annual report of the company for the year ended in 31/12/2011, as well as measures that the company takes in order to minimise risks.