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Efremico: Interim Management Statement for the period 01.01.10 – 17.05.10

At the meeting held on Thursday, May 17, 2010, the Board of Directors of Efremico Holdings Public Ltd approved the interim management statement for the period from January 1, 2010 to May 17, 2010, pursuant to article 11 of Law 190(1) 2007. The statement has not been audited by the external auditors and describes the Company’s performance as well as the most significant facts during the period.

Main activities

Its main activities, which focus on the investments in CSE-listed titles, in titles that are not listed in the CSE as well as other investments, have not changed. Its main investing aim is the middle-term and long-term capital gains with the creation of a portfolio with securities listed in the CSE and other securities.

Most significant facts during the period

On April 23, 2010, the Company announced its final results for 2009, which have already been posted to the shareholders.

During the period, the Company suffered losses.

There were no significant events or transactions affecting the Company’s results and no other profits or losses resulted from non-recurrent activities or activities that do not fall under the Company’s main activities.

Main risks

The main risks that the Company faces are the same as those described in the Annual Report 2009.

Future developments

The Company is expected to continue to be actively involved in the same sectors in 2010. The prospects will be affected significantly by the developments in the CSE and the Cypriot economy.

Tuesday, 18 May, 2010 - 11:55