16 September 2016

MINOAN GROUP PLC

("Minoan" or the "Group")

Appeal Hearing Held

Minoan is pleased to announce that the hearing of the appeals against the issue of the Presidential Decree in respect of the Group's Project in Crete took place earlier today.

Minoan has confidence in the Greek Supreme Court and expects its decision to be given the same priority that was given to the date of the hearing, which was the first available in the judicial calendar.

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