CPI Holdings Public LTD

Management Reports • Nov 13, 2012

CPI HOLDINGS Public Ltd Spyrou Kyprianou 57 6051 Larnaca Tel.24-661192 , Fax.24-662464

To CSE General Manager Mr. Metaxas Nondas

November 12 ,2012

ANNOUNCEMENT

The Company CPI Holdings Public Ltd presents to investors the Interim Management Statement for the period from 1 July 2012 until today, 12.11.2012 pursuant to Article 11 of Law 190 (I) 2007.

The Interim Management Statement is based on the financial data of the above period for the Company and the Group, which have not been audited by the external auditors.

PRINCIPAL ACTIVITIES

The principal activities of the Group have not changed during this period compared to the year ended December 31, 2011 and remain property investments as well as investments in the stock markets.

The main risks faced by the Group have not changed since the date of the financial statements of 2011.

Explanation of significant transactions

During the period under review, the Group continued its activities normally and there were no material extraordinary events or transactions which have had an impact on the financial position of the Company and its subsidiaries.

General description

The group's financial position is satisfactory , by investing in valuable properties in Cyprus as well as investments in publicly traded companies.

The real estate property in the Moni area of Limassol due to its location and characteristics are expected to perform better than the domestic property market which has stalled at this stage.

The results for all of 2012 will depend on the progress of the stock markets, economy and property in Cyprus until the end of the year.

With the announcement of the annual results of the Group, which will be published with the end of 2012, the shareholders and the investing public will receive more information on the developments of the year.

Sincerely,

Andreas Leonidou Executive Chairman