Blue Island PLC

Legal Proceedings Report • Jan 20, 2015

Το: Mr. Nondas Cl. Metaxas, Director General of Cyprus Stock Exchange, Nicosia

20th January 2015

Dear Mr. Metaxas,

ANNOUNCEMENT

BLUE – Losses due to severe weather conditions 3-6 January 2015

Blue Island Plc, pursuant to the CSE and SEC Regulations and in order to fully inform the shareholders and the investing public in general, announces that during the severe weather conditions that affected Cyprus between 3-6 January 2015, the company suffered damages at the fish farm of around €550.000

The damages are not covered by any insurance policy and are expected to influence the financial results of the company for 2015 (and not the 2014 financial results as initially stated by mistake). Finally the operation of the company is not expected to be affected.

Yours Sincerely,

……………………………… Yiannos Economides Secretary

Copy: Cyprus Securities and Exchange Commission