Demetra Holdings Plc

Earnings Release • Dec 30, 2015

DEMETRA INVESTMENTS

30 December 2015

Re: Profit Warning

In accordance with the relevant regulations of the Cyprus Stock Exchange and of the Securities and Exchange Commission and in view of informing shareholders and investors in general as comprehensively as possible, Demetra Investment Public Limited announces that, based on the indications to this day, the Group is expected to record a loss for the year ended 31 December 2015. The above estimate does not take into account the revaluation of the Group's property investments, which is not, however, expected to modify the estimate for loss.

The loss results from the Group's investment portfolio and in particular the investments in stock exchange securities, and mainly the investment in Hellenic Bank. The above portfolio has recorded significant unrealised losses as a result of the negative trends on the Cyprus Stock Exchange. Interest receivable is expected to be significantly decreased compared to 2014 due to the decrease in both interest rates and bank deposits.

As regards the portfolio which is invested in the sector of land and real estate development, rents receivable are at approximately the same levels as last year, but the final figure will be established after the inclusion of the revaluation of property.

Costas Paphitis Financial Controller