CPI Holdings Public LTD

Management Reports • May 25, 2015

Προς: Cyprus Stock Exchange General Manager

Mr Metaxas Nontas

May 22, 2015

ANNOUNCEMENT

The Company CPI Holdings Public Ltd presents to investors the Interim Management Statement for the period from 1 January 2015 until today 22.05.2015 according to the CSE Laws and Regulations.

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 ACTIVITES

The principal activities of the Group for the period in review, remained the same as last year 2014, and remain on property investments as well as on investments in stock markets.

The main risks faced by the Group have not changed since the date of the Financial Statements of 2014.

Explanation of the 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, it holds investments on valuable properties in Cyprus as well as investments in publicly traded companies.

The real estate property in the Moni area of Limassol due its location and characteristics is expected to perform better than the domestic property market which at the present stage presents problems.

The results for the entire 2015 will depend on the progress of stock markets, the economy and the property value in Cyprus until the end of the year. Any provisions at this stage would be risky.

With the announcement of the Financial Results for the first half of 2015f for the Group, which will be published by the end of the first half of 2015, the shareholders and the investors will receive more information regarding the developments of the first half.

Sincerely

Andreas Leonidou Executive Chairman