MARFIN INVESTMENT GROUP ANNOUNCEMENT

18/01/2013

The Board of Directors of MARFIN INVESTMENT GROUP ("MIG") has decided that the company will commence legal proceedings against the Republic of Cyprus following the procedure provisioned by the bilateral international treaty regarding the mutual promotion and protection of investments between Cyprus and Greece dated 30-3-
1992 (the "Treaty").
MIG seeks to protect its investment in CYPRUS POPULAR BANK amounting to Euro
823,863,584 due to breaches of articles 2, 3 and 4 of the Treaty by the Republic of
Cyprus.
The Treaty provisions for a period of a maximum up to 6 months during which the parties can reach an amicable resolution of the dispute. Failing this, the case is referred to an International Arbitration Tribunal (under the rules of the International Centre for Settlement of Investment Disputes), the ruling of which is final and binding. It is anticipated that other private investors in CYPRUS POPULAR BANK will become parties to this process on the grounds of the Treaty or based on similar international treaties and provisions of International Law.
The formal commencement of the process will be on Wednesday, 23 January 2013 when the Notice of Dispute will be served on the Republic of Cyprus. On the same day, MIG will inform its investors about all details in relation to this case during a press conference.

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