Cepal Holdings announced that it has elected a new Board of Directors with an expanded composition. The new members are Ms. Miriam Ceribelli, an executive of Davidson Kempner and Mr. Marios Kalotychios, an executive of Alpha Bank. At the same time, Mr. Nicholas Chrysanthopoulos, an existing Board member, will become Non-Executive Chairman of the Group's holding company.

Mr. Artemis Theodorides remains Executive Chairman of the Board of Directors of Cepal Hellas Financial Services, licensed by the Bank of Greece, and a member of the Board of Directors of Cepal Holdings.

The expanded composition of the Board underlines the company's emphasis on further strengthening its corporate governance and the development of its strategic planning.

The election of the new Board of Directors of Cepal Holdings coincided with the successful completion of the licensing process of Cepal Hellas by the Bank of Greece, which is a vote of confidence in the Cepal Group and its corporate governance.

The company's vision is to become the benchmark in Greece and wider Europe in operations support, receivables and property management services. To this end, Cepal Holdings Group is systematically implementing significant investments in technology and human resources to achieve this goal.

The Board of Directors was constituted as follows:
* Nikolaos Chrysanthopoulos, non-executive chairman (with a 3-year term of office in accordance with the Company's Articles of Association)
* Otaso Osayimwese, non-executive member
Miriam Ceribelli a non-executive member
Ken Stannard, non-executive director
* Artemis Theodorides, executive director
Marios Kalotychios a non-executive member and representative of Alpha Bank
* Theodoros Athanasopoulos, managing director, executive member