Petros Petropoulos S A : Announcement of resignation

24 January 2017

Petros Petropoulos AEBE announces that during the meeting of the Company's Board on 23 January 2017, Mr. George David, Non-Executive and Independent Member, submitted his resignation for personal reasons. Mr. David has been a Member of the Company's Board of Directors since 1998.

The Chairman of the Board Mr. Konstantinos Petropoulos thanked Mr. George David and expressed his gratitude for the long-standing contribution of Mr. George David to the development and progress of the Company.

In place of Mr. George David, the Board of Directors elected Mr. Michael E. Economakis, a new Non-Executive and Independent Member.

This replacement will be submitted for approval by the next General Meeting of Shareholders.

Petros Petropoulos AEBE was established in Thessaloniki in 1922. It manufactures, modifies, distributes and supports a wide range of automotive products including automobiles, trucks and buses, generating sets, diesel engines, boats, outboard engines, agricultural, earthmoving and industrial equipment, batteries and lubricants. The Company has a leading position in the Greek market in the sectors which it serves. More information atwww.petropoulos.com.

For further information, please contact Mrs. Athina Tsiagka, tel.:[phone].

PETROS PETROPOULOS AEBE
Head Office 96-102 Iera Odos Post Office Box 41018 122 10 Athens, Greece	Telephone Switchboard 210 - 3499200	Telefax Line Central 210 - 347 3404	E-mail [e-mail]