Announcement in accordance with the provisions of Greek Law 3556/2007 and 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 thereunder informs investors that, in accordance with the notifications dated and received by the Company on 30.12.2013 of a) the Cypriot company Raguso Limited, a legal entity related to Mr George Gatzaros and Mr Menelaos Tassopoulos who are its legal representatives but also members of the Board of Directors of the Company in which Raguso Ltd currently holds today 68,6105% of the total number of shares and voting rights of the Company, b) Mr George Gatzaros President of the Board of Directors and legal representative of PAPOUTSANIS SA and c) Mr Menelaos Tassopoulos Managing Director and Vice President of the Board of Directors and legal representative of PAPOUTSANIS SA, the above mentioned according to the provisions of Greek Law 3340/2005 have proceeded to the following:

Raguso Limited sold on 30.12.2013 through an OTC transaction 1.700.000 common voting shares of the Company against €0,5 each to Mr George Gatzaros and 1.700.000 common voting shares of the Company against €0,5 each to Mr Menelaos Tassopoulos.