Announcement in accordance with the provisions of Greek law 3340/2005

PAPOUTSANIS SA (the Company) in accordance with the provisions of Greek law 3340/2005 and the decisions of the Board of Directors of the Hellenic Capital Market Commission issued under its authorization informs the investors that following the notifications dated and received by the Company on 08.03.2013 of Mr. Menelaos Tasopoulos son of Athanasios, Chief Executive Officer and Vice Chairman of the Board of Directors of the Company, Mr. Georgios Gatzaros son of Sotirios, Chairman of the Board of Directors of the Company, the Cypriot company Raguso Limited, a legal entity related to Mr. Menelaos Tasopoulos and Mr. Georgios Gatzaros who are its legal representatives but also members of the the Board of Directors of the Company in which Raguso Ltd holds today 71,82% of the total number of shares and voting rights of the Company, and the Cypriot company Spellerot Limited, a legal entity related to Ms Mary Iskalatian, daughter of Sarkis, Chief Financial Officer of the Company, as it is 100% controlled by Ms Mary Iskalatian, the above mentioned relevant persons, under article 13 of Greek law 3340/2005, performed on 08.03.2013 the following transactions on the common shares of the Company:



v The Cypriot company, Raguso Limited, sold through an OTC transaction on one hand to Mr Menelaos Tasopoulos 1,000,000 common voting shares of the Company against €0.32 each and on the other hand to Mr Georgios Gatzaros 1,000,000 common voting shares of the Company against €0.32 each.

v Mr Menelaos Tasopoulos sold through an OTC transaction to Mr Georgios Gatzaros 500,000 common voting shares of the Company against €0.44 each.

v The Cypriot company, Spellerot Limited, sold through an OTC transaction to Mr Georgios Gatzaros 40,000 common voting shares of the Company against €0.44 each.

v Mr Georgios Gatzaros sold through a pre agreed transaction on the Securities Market of the Athens Exchange (a block trade) 920,000 common voting shares of the Company against €0.44 each.