Grivalia Properties : Acquisition of 49% of the shares of the company with the distinctive title “Value Touristiki S.A.” 20.12.2018

Grivalia Properties REIC

117, Kifisias Avenue & Agiou Konstadinou Street 151 24, Maroussi Athens-Greece

Tel: [phone] Fax:[phone]

VAT n. GR094048855 General

Comm.Registry 000239101000 Reg. act 11/352/21.9.2005

Maroussi, December 20th, 2018

Press Release

Acquisition of 49% of the shares of the company with the distinctive title

"Value Touristiki S.A."

Following the press release dated 29/10/2018, Grivalia Properties REIC ("Grivalia") announces the completion of the acquisition of 49% of the shares of the company with the distinctive title "Value Touristiki S.A." (the "Company").

It is reminded that the Company was proclaimed the selected bidder in the liquidation process of a stand-alone office building, with total areas of 14,427 sqm, on the junction of Ilias Iliou str. and Minoos str. in Neos Kosmos, Attica. The building was owned by "H.K.

Tegopoulos S.A." until the latter was declared bankrupt.

The Company will be a joint venture with the share participation of Grivalia in order to refurbish the existing building and upgrade it into a contemporary commercial asset.

Taking into account the Company's assets and liabilities at the date immediately preceding the date of the transaction, the consideration was €1.813m.