18 March 2015

MINOAN GROUP PLC

("Minoan" or the "Company" or the "Group")

Share Price Movement/Media Comment

The Board of Minoan notes the recent movement in the Company's share price and also comment in the media regarding the draft presidential degree in respect of the Group's project in Crete (the "Project"). The draft presidential decree approves the development plan and the strategic environmental impact study in respect of the Project, which were submitted last year.

Minoan is pleased to confirm that a Plenum of the Greek Council of State (the highest court in Greece) has unanimously approved the draft presidential decree, with no dissenting opinions, which was signed off by the President of the Council of State.

The draft presidential decree will now go to the relevant Ministers and finally to the President of the Republic for their signatures.

The Company will make a further announcement as and when appropriate.  

For further information please visit www.minoangroup.comor contact: