It is with great outrage and indignation that I refer to the matters that have arisen the last days, as a result of the unfair attack against our brand Folli Follie and FF Group, by a group of speculators, who prepared a well-organized plan with the aim to damage the company and its shareholders, obtaining great financial profits. By this statement, I would like to assure the shareholders, the competent supervising authorities, the cooperating banks and our Group's employees that I will personally take all necessary immediate actions to restore the truth and the trust to our Group that boasts a successful 35 year history. Our vision for FFGroup remains strong and I will not allow any further threats by a group of speculators who's philosophy is to short shares and to try to negatively influence a lifetime of hard work by thousands of people working, supporting and trusting FF Group. In this context, I personally commit to 1) fully brief the supervising authorities of the Hellenic Capital Market Commission within tomorrow during a scheduled meeting and to provide them with all the data that disproves the content of the report in question, as well as anything else required, 2) hold a complete and thorough briefing to the investor community and to provide everyone with a detailed list of the Folli Follie brand Points of Sale, which proves the fact that the allegations raised in the report in question are completely unfounded and 3) to appeal to the competent courts, starting tomorrow morning, so that the responsibilities are attributed where appropriate.

George Koutsolioutsos

George Koutsolioutsos