Titan Cement Company S.A. announces that the offering of a 4-year tenure, €200 million nominal value notes, with an annual coupon of 6.90%, to be issued by its subsidiary TITAN GLOBAL FINANCE PLC and guaranteed by Titan Cement Company S.A. has been completed.

The notes are expected to be issued on 30 July 2009. Application has been made for the notes to be admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The proceeds will be used primarily for the refinancing of existing debt and also for other general corporate purposes of Titan Group.

This action constitutes part of the Group’s long term financial strategy to diversify its funding sources.
Alpha Bank and EFG Eurobank Ergasias have acted as joint managers of the issue.

This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933 (the “US Securities Act”) or an exemption therefrom. Titan has not registered and does not intend to register any of the notes under the US Securities Act. The notes will not be offered or sold in the United States.

This communication is not being made by, and has not been approved by, an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 of the United Kingdom, as amended and is only directed at, persons who (i) have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 of the United Kingdom, as amended, (the “Financial Promotion Order”), or (ii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000 of the United Kingdom, as amended) in connection with the issue or sale of any notes may otherwise lawfully be communicated or caused to be communicated.

Titan is an independent cement and building materials producer with over 100 years of industry experience. Based in Greece, the Group operates in 7 countries, owning 12 cement plants. Throughout its history Titan has aimed to combine operational excellence with respect for people, society and the environment.

In 2008, the Group sold over 17.2 m. tonnes of cement and cementitious materials, 5.4 m. m3 of ready mixed concrete, 18.6 m. tonnes of aggregates and various other building materials like concrete blocks, dry mortars etc.

Detailed financial and other information is available on the Titan Group website: www.titan-cement.com