Claridge Public LTD — Management Reports 2013

May 20, 2013

Claridge Public Limited

Γραφείο Γραμματέα Τ.Θ. 50012, 3600 Λεμεσός, Κύπρος Τηλ.:00357 25871600, φαξ: 00357 25362001 e-mail: pmc@pkdlaw.com

Interim Management Statement

Claridge Public Limited ("the company") presents the Interim Management Statement of the Group for the period from 1st of January 2013 to 17th May 2013, which has been prepared pursuant to the provisions of article 11 of the Transparency Requirements Law of 2007 (N.190(I)/2007).

Nature of Activities of the Group

The main activities of the Group have not changed compared with those of the last year ended on 31 December 2012, which are the provision of hotel services as well as the sale of immovable properties though the wholly subsidiary company Amathus Vacation Ownership Limited.

General review of the Financial Status of the Hotel Sector

The sales of Amathus Beach Hotel Paphos for the period January - April 2013 have been decreased by $\epsilon$ 338 thousand (19%) compared with the sales of the relative last year period. This is mainly attributed to the lower occupancy of the hotel, because of non-repetition of various groups of special interest which visited the hotel during last year and the reduced room nights from the British market compared to the corresponding last year period.

The loss of the hotel operations for the period under reference (excluding depreciation and interest) has been decreased only by $\epsilon$ 4 thousand compared with the relative period of last year, because of lower sales and decrease of operating costs of the hotel.

General review of the Financial Status of the Development of immovables sector

During the period under reference, the wholly subsidiary company of the Group, Amathus Vacation Ownership Limited, has completed 1 sale of €365 thousand compared to $\epsilon$ 1 million sales in the corresponding period of 2012.

Main risks and uncertainties

The main risks and uncertainties that the Group faces are the same as those described in the Annual Report for 2012.

Significant Facts and Transactions

During the reporting period there were no significant events and transactions other than the ordinary activities of the Group.

Claridge Public Limited

Γραφείο Γραμματέα Τ.Θ. 50012, 3600 Λεμεσός, Κύπρος Τηλ.: 00357 25871600, φαξ: 00357 25362001 e-mail: pmc@pkdlaw.com

Other Events

Claridge Public Limited conforming to the relevant circular of the Cyprus Stock Exchange (Circ. No. 04-2013) announced the following on 2nd of April 2013.

• 1. The deposits of the Group have been affected by $\epsilon$ 185.000, following the decision for the resolution of Cyprus Popular Bank.
• 1. The Group does not keep any portfolio of shares or bonds of the Cypriot banks.
• 1. The Group is occupied in the hotels sector and the sale of residential units, but at present the management cannot predict on how the current developments will affect the turnover of the Group.

Prospects

The management taking into consideration the above and all available data up to now, and also the continuing financial recession internationally that affects negatively the turnover of the Group due to the nature of its business and the recent developments in Cyprus with the uncertainty in the banking system and the economy in general, estimates that the expected results of the Group for 2013 shall continue to be loss making. At present, the management due to the uncertainty cannot predict if the loss for 2013 will be decreased compared with the relative period of last year.

Limassol, 20 Μαΐου 2013