17 April 2015

Minoan Group Plc

(or "the Group")

Minoan Group Plc is pleased to announce that the draft new Regional Plan for Crete is now open for final public consultation and once this is completed the Regional Plan will be issued. The role of regional plans is to set out the designated land uses and development opportunities for all regions in Greece. The draft new Regional Plan lists, among the priorities of the Periphery of Crete, the need to provide high quality tourism through the creation of special tourism infrastructure in an organised manner.

The Group's project in Crete (the "Project") is a "model" development covered by the above provisions, is clearly designated in the draft new Regional Plan and, for the first time, is listed among the planned significant investments in Crete.

This reinforces the conclusions of the Plenum of the Greek Council of State, which recently unanimously approved a draft of the Presidential Decree granting land planning approval for the Project. The final step is now for the Presidential Decree to be issued.

 Christopher Egleton, Minoan Chairman, commented:

"I am delighted with the inclusion of the Project in the draft new Regional Plan. Although not essential for the Presidential Decree to be issued, the Project's inclusion substantiates the Council's decision.

Publication of the draft new Regional Plan has the effect of adding security to the planning regime for the local area by denoting zones for tourism, hotels etc., allowing the Group to cement its plans for the future of the Project." 

For further information visit www.minoangroup.com or contact: