PASAL Development S.A. (Issuer) announces in accordance to L.3556/2007 and following respective information received from the shareholder Mr. Sotirios Theodoridis that on October 12^th, 2011 the total percentage of participation he holds in the share capital and voting rights of the Issuer has decreased from 32,53% to 29,52%.

This percentage (29,52%) corresponding to 4,419,046 shares of the Issuer, which are held directly by Mr. Sotirios Theodoridis. There is no indirect participation.