Announcement of the Company in response to the Hellenic Republic Capital Market Commission ’s letter

PAPOUTSANIS SA (the Company), under the art. 21 of Greek law 3556/2007 and in accordance to relevant query of HCMC, informs the public that:

• The Company does not have any bank deposits in Cyprus, either in Bank of Cyprus bank or Cyprus Popular Bank (CPB) over 100 thousand euros.
• The Company has no exposure to securities (shares or bonds) or other financial instruments in any of the above mentioned banks.
• The percentage of revenues generated in Cyprus for the financial year 2012 was settled at 1,3% of the total revenues.

Taking into account all of the above and what is known to the Company to-date, we expect a minor impact on the Company’s turnover and Financial Results, without however to know the exact percentage.