The company under the name of "PASAL Real Estate Development S.A." and the distinctive title "PASAL Development SA", announces that the Annual Ordinary Shareholders' Meeting took place on 26/06/2014. There were present 4 shareholders representing 9.499.926 shares on a total of 14.967.940 shares, or 63,47 % of the company's share capital. During the General Assembly meeting there were discussions and decisions were taken on the following daily agenda issues:

More specifically the General Assembly unanimously approved:

1a.  Τhe restated financial statements 1/1/2012 to 31/12/2012 (reapproved) because of redevelopment funds from the application of the amended IAS 19, and the Annual Financial Report of the Group & the Company for the fiscal year 2013 (from 01.01.2013 to 31.12.2013), together with Annual Financial Statements (for the company and consolidated) of the above mentioned fiscal year.

1b. The relevant Annual Reports of the Board of Directors and the Certified Auditors.

2. The Release of the Board of Directors and the Certified Auditors from all liabilities related to their activities during the fiscal year ended at 31.12.2013, (from 01.01.2013 to 31.12.2013)

3. The election of Mr. Gregoris Pappas as regular Certified Auditor and Mr. Antonios Papagianis as substitute Auditor for the fiscal year from 1/1/2014 to 31/12/2014 and the determination of their fees for the above period.

4. The fees and remuneration paid to the BoD members during the fiscal year 2013 and the upper limit for the total fees that will be paid during current fiscal year.

5. The granting of permission, in accordance to the art.23 of Codified Law 2190/1920, to the Directors and the Executives of the Company to participate in the Boards of Directors of subsidiaries or affiliated companies, as described in ar42e par. 5 of Codified Law 2190/1920.

6. The validation of the election of new members of the Board of Directors in replacement of the resigned members.