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Titan: Announcement

Following announcement dated 2.12.2011, Titan Cement Company S.A. hereby informs the public regarding the implementation in 2011 of the Stock Option Plan, which was approved by the General Meeting of Shareholders dated 29.5.2007.  In the framework of said Stock Option Plan, senior Company and Group executives exercised stock options that had been granted in 2008 and 2009 and matured, after 3 years, in December 2010 and December 2011 respectively, in accordance with the terms and conditions provided by said Plan.
More specifically:
1. 42 senior Company and Group executives declared in writing their intention to exercise their stock option rights.  

2. In total, 18,688 new common Company shares of a nominal value of € 4 each were finally allocated at an exercise price of € 4 per share, equal to the nominal value of each Company share.

3. The total purchase price for the allocated shares amounted to € 74,752 and full payment was completed on 9.12.2011.

4. The increase of the Company Share Capital by the amount of €74,752, corresponding to the nominal value of the new shares (18,688 shares x 4 Euro), was approved on 19.12.2011 by the Board of Directors of the Company. The full payment of the share capital increase was verified by the Board of Directors on the same as above date (19.12.2011). The Ministry of Development by virtue of its announcements K2-10195 and K2-10195(2)/28.12.2011 approved and registered the above capital increase, as well as the respective capital increase payment verification.

5. Following the above share capital increase, the fully paid up share capital of the Company amounts to € 338,530,112 and is divided into 84,632,528 shares, having a nominal value of € 4 each, of which 77,063,568 shares are common shares and 7,568,960 are preference non - voting shares. 

6. The Company will take all appropriate actions, according to the legislation in force, for the introduction of the new shares for trading at the Athens Exchange.
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