Within the framework of the article 10 par. 1 of L. 3340/2005 provisions and the decision 3/347/12-07-2005 of the Hellenic Capital Market Commission, KLEEMANN HELLAS S.A. announces the decision of its BoDs during the session of 28/02/2011, to proceed on the establishment of a new subsidiary in Oxford, U.K. under the trade name "KLEEMANN LIFTS UK LTD".

The purpose is to promote modernisation solutions and further enhance the overall product range of the parent company. The initial share capital of the new Subsidiary will be € 200.000,00 and will be covered 100% by KLEEMANN HELLAS S.A. The company will proceed to a new announcement upon finalization of the establishment of the new subsidiary.