Prilep, 8/11/2012

ANNOUNCEMENT (Election of Chairman of the Board of Directors)

Pursuant to the Decision no. 02-1311/2 dated 05.11.2012, the Board of Directors ("Board") of Mermeren Kombinat AD Prilep has elected Mr. Theodoros Malfas, its current non-executive member, as the new Chairman of the Board, replacing Mr. Mark Richard Jacobson, who remains a non-executive member of the Board.