We notify you that today's Extraordinary General Assembly of Shareholders of PIRAEUS Real Estate Investment Company (PIRAEUS A.E.E.A.P.) has decided, inter alia, unanimously with 37,886,680 votes (percentage of 75.93%), out of a total of 49,898,000 shares, to amend article 5, par. 1 of the company's articles of association, by reason of:

- increase in the company's share capital through capitalization of part of the at par surplus, and issue of 4,989,840 new shares, and
- free distribution to the company's shareholders in the ratio of one (1) new share per every ten (10) old ones, with parallel increase in the nominal value of each share by Euro 0.13 (namely from Euro 1 to Euro 1.13).

Therefore, the company's share capital will rise to sixty two million twenty three thousand seven hundred eleven euro and twenty cents (62,023,711.20 Euro), divided into fifty four million eight hundred eighty eight thousand two hundred forty (54,888,240) common registered shares of a nominal value of one euro and thirteen cents (Euro 1.13) each.