Minoan Regulatory News (MIN)

9 April 2014

Minoan Group Plc

(the "Group")

Regional Government of Crete Decision

In its announcement on 3 April 2014, Minoan Group Plc stated that the Regional Government of Crete, the Periphery, had voted in favour of the Strategic Environmental Assessment ("SEA") for the Group's project in Crete (the "Project") at its meeting held on the previous day. The details of the Periphery's decision have now been published.

The Regional Government's council meeting was attended by 44 members, of whom 38 voted in favour of the SEA with 3 abstentions. The vote was also strongly supported by 21 professional unions, including various hotel and commercial unions from the Lasithi prefecture, who welcomed the investment to the area.

The Regional Government has given its decision based on certain conditions, none of which are incompatible with the Group's planned development of the Project.

Christopher Egleton, Minoan Chairman, commented:

"Having seen the detail of the Regional Government's decision, I remain delighted with the overwhelming support the Project has received. I now look forward with confidence to the Presidential Decree being issued."

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