Fondul Proprietatea

Capital/Financing Update • May 5, 2015

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To: Bucharest Stock Exchange Financial Supervisory Authority

Current report according to Article 99 of the Code of the Bucharest Stock Exchange, Title II, Issuers and Financial Instruments.

Events to be reported:

Execution of a credit facility with Citibank Europe PLC Dublin - Romanian Branch

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as sole director and fund manager of Fondul Proprietatea S.A. ("the Fund"), would like to inform shareholders and investors that on 4 May 2015, it has concluded a revolving committed credit facility of RON 500 million with Citibank Europe PLC Dublin - Romanian Branch.

The purpose of the credit facility is for general corporate use, including share buybacks, but excluding investments.

The availability period of the facility ends on 27 November 2015, and the final reimbursement should take place on 31 December 2015, at the latest.

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, acting as Sole Administrator on behalf of FONDUL PROPRIETATEA S.A.

Oana Valentina Truța Legal Representative

Report date: 5 May 2015

Name of the issuing entity: Fondul Proprietatea S.A.

Registered office: 78-80 Buzesti St., 7 th floor, district 1, Bucharest, postal code 011017

Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631

Sole Registration Code with the Trade Register Office: 18253260

Order number in the Trade Register: J40/21901/2005

Subscribed share capital: RON 11,575,064,733.65

Paid share capital: RON 11,229,443,001.15

Number of shares in issue: 12,184,278,667

Number of paid shares: 11,820,466,317

Regulated market on which the issued securities are traded: Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange

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