Athens, March 20, 2017 – Further to the announcements made on February 23 and March 1, 2017, Frigoglass S.A.I.C. (“Frigoglass” or the “Company” and, together with its consolidated subsidiaries, the “Group”) is continuing its negotiations to agree final terms with an ad hoc committee representing approximately 32% of the 8.25% Senior Notes due 2018 (the “Notes”) issued by Frigoglass’s subsidiary Frigoglass Finance B.V. (the “Ad-Hoc Committee”), Frigoglass’s core lending banks (Citibank, HSBC, Alpha Bank and Eurobank (collectively, the “Core Banks”) and its major shareholder, Boval S.A. (“Boval”).