IRF European Finance Investments Ltd

('IRF' or the 'Company')

Result of Annual General Meeting

The directors of IRF wish to announce that at the Company's Annual General Meeting held earlier today, all resolutions were duly passed.

All enquiries should be directed to:

Angeliki Frangou, Chairperson Tel:+30 (0)210 428 0564

Sheldon Goldman, Deputy Chairperson Tel:+1 (0)212 404 5740