Press Room

ANNOUNCEMENT

The Board of Directors of ATLANTIC INSURANCE COMPANY PUBLIC LTD announces that, at its meeting held on 21 April 2016 at the Company's Head Office, the following were decided:

1. It examined and approved the Annual Report, the Audited Consolidated Financial Statements of the Group, the Audited Financial Statements of the Parent Company and the Corporate Governance Report for 2015. According to the audited financial statements, the profit attributable to shareholders stood at Euro 4.43 million. As explained in note 37 of the financial statements, there has been no asdjustment in relation to the indicative results announced on 23 February 2016.

2. It decided that the Annual General Meeting will take place on Wednesday, 1 June 2016 at 18:00 at the Company's Head Office.

The invitation to the Annual General Meeting will not be sent to the shareholders, pursuant to the provisions of Article 128 of the Companies Law, Cap.113. The notice and the proxy are available on the Company's website (www.atlantic.com.cy) and the CSE website (www.cse.com.cy).

3. It also decided that the Annual General Meeting will be followed by an Extraordinary General Meeting for the approval of the following resolution:

Special Resolution 1

That the Board of Directors be authorised and is hereby authorised to proceed to buyback of own shares pursuant to the provisions of Article 57A of the Companies Law, Cap. 113 (as amended). The minimum and maximum acquisition price of the Company's shares will not exceed five per cent (5%) of the average market value of the Company's shares over the last five trading sessions prior to the acquisition of the shares. The Company may buy back up to the maximum number of shares provided for by the Law within a period of twelve months from the approval of this resolution at the Extraordinary General Meeting. The shares can be acquired either by private agreement or by purchase from the market*.

The invitation to the Extraordinary General Meeting will not be sent to the shareholders pursuant to the provisions of Article 128 of the Companies Law, Cap. 113. The notice and the proxy are available on the Company's website (www.atlantic.com.cy) and the CSE website (www.cse.com.cy).

A sufficient number of copies of the full text of the Annual Report as approved and signed will be available free of charge at the Company's Head Office, 15, Esperidon Str., 2001 Strovolos and on the Company's website (www.atlantic.com.cy) and the CSE website (www.cse.com.cy). The Annual Report will be available in printed form during the AGM.