1/2013 Appointment of a Board Member

Management Board of Celtic Property Developments SA (The Company) announces that the 10th of January of 2013, the Supervisory Board appointed Mr. Andrew’a Pegge as Member of the Management Board of current term from the 10th of January 2013.

Mr. Andrew Pegge has a university degree, is a graduate of Sussex University (UK), he completed postgraduate studies in Marketing at The Chartered Institute of Marketing (UK) and MBA in Finance at the City University Business School (United Kingdom). Andrew holds CFA – Licensed Financial Analyst (Chartered Financial Analyst) obtained in the AIMR (Association for Investment Management Research – United States).

Professional Experience Mr. Andrew Pegge is as follows:
2000 – present: Director / Manager of the Fund Laxey Partners Limited (Isle of Man) and Member of the Board and Director of the entities of the Laxey Partners group and funds managed by: responsible for analytical systems development supporting investment decision-making process; innovative implementation of systematic analysis of closed-end funds, the analysis the liquidity of their assets and the costs of implementation,
1998 – 1999: Financial Supervisory Commission of Isle of Man – consultant supervising investment funds,
1995 – 1998: Regent Fund Management Ltd, London / Isle of Man (United Kingdom) – senior investment manager, particularly in charge of the portfolio of global emerging markets,
1990 – 1994: Buchanan Partners, London (United Kingdom) – Co-investment manager, responsible for transactions in emerging markets,
1987 – 1990: Laurentian Fund Management, London (United Kingdom) – management systems manager,

In accordance to his statement, Mr. Andrew Pegge does not compete in relation to the Company, does not participate in any competitive company as a partner of a partnership or as a member of the other companies and does not participate in any other competitive legal person as a member or it’s governing body.

On the basis of the statement, he is not entered in the Register of Insolvent Debtors maintained pursuant to the Act on the National Court Register.

Legal basis: § 5. 1 point 22 and § 28 of the Ordinance of the Minister of Finance dated on 19th of February 2009 on current and periodic information published by issuers of securities and conditions for recognizing as equivalent information required by the law of a non-Member State.

Signatures of representatives:
1. Elzbieta Donata Wiczkowska, Board Member, 11.01.2013,
2. Aled Rhys Jones, Board Member, 11.01.2013,