Fondul Proprietatea

Declaration of Voting Results & Voting Rights Announcements • May 11, 2015

To: Bucharest Stock Exchange

Financial Supervisory Authority

London Stock Exchange

Current report according to Article 99 letter (s) of the Rule book of the Bucharest Stock Exchange Market Operator, Title II, Issuers and Financial Instruments

Important events to be reported:

Shareholding structure and total number of voting rights as at 30 April 2015

The shareholding structure and total number of voting rights at the level of Fondul Proprietatea SA ("the Fund") as at 30 April 2015, as received from Depozitarul Central SA, were as follows:

Shareholder Type	% of subscribed share capital	% of paid–up share capital	% of voting rights
Foreign institutional shareholders	29.35	30.25	33.31
The Bank of New York Mellon (depository bank for Global Depository Receipts)	21.88	22.56	24.84
Romanian private individuals	19.89	20.50	22.57
Romanian institutional shareholders	11.43	11.78	12.98
Fondul Proprietatea	8.91	9.19	0.00
Foreign private individuals	5.52	5.68	6.26
Ministry of Public Finance	3.02	0.04	0.04
Total	100	100	100

The total number of shareholders was 8,520 and the total number of voting rights was 10,734,540,516.

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

Oana Valentina TRUŢA

Legal Representative

Report date: 11 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-up 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

____________________________________________________________________________________________________________________ FONDUL PROPRIETATEA S.A., a closed-end investment company administrated under a unitary system • Headquarters at: 78-80 Buzesti Street, 7th floor, Bucharest 1st district, postal code 011017, Romania. • Fiscal Identification Code (CIF): 18253260, registered with the Trade Registry under no: J40/21901/2005 • Register on Data Protection Notification Register under number 18668 • Subscribed share capital RON 11,575,064,733.65, Paid-up Share Capital: RON 11,229,443,001.15 • Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro