SERVICES

Valuations of Plant & Machinery

Property Valuations

Feasibility Studies

PlanningInvestigations

Expert Witness

Market Research

Legal due diligence

Development Appraisals

Brokerage

Property Management

L.P. ELLINAS Real Estate Consultants & Valuers

Banks Developers Listed Companies

InstitutionalInvestors

Private individuals

FoundationsProperty Funds

Our clients range from the following list:

Property Valuations

Valuationsof Plant & Machinery

Development Appraisals

FeasibilityStudies

Planning Investigations

Mortgage Lending Valuations

Matrimonial & LegalPurposes

International Financial Reporting Standards

Insurancepurposes

CriticalReviews

IVS set out valuation principles, procedures and definitions for many types of assets, including plant and equipment, intangible assets and businesses, for different applications such as financial reporting and bank lending. It has also worked in liaison with the International Accounting Standards Board (IASB) in producing guidance on valuations required under IFRS. The first edition of International Valuation Standards was published in 1985. The eighth, and current edition, was published in 2007.Valuation reports prepared by L.P. Ellinas Real Estate Consultants & Valuers comply with the IVS and particularly with their current edition (8th edition, 2007).

The need identified by a number of professional bodies from around the world for uniformity in the valuation approaches used in real estate markets led to the founding of the IVSC –(International Valuation Standards Committee). IVSC is an independent, not-for-profit, private sector organisation that has been established almost 25 years ago, including associations representing 52 countries. The main objective of the IVSC is to create and ensure an independent and transparent international valuation standards setting process. Its International Valuation Standards (IVS) – www.ivsc.org/standards/ are recognised and accepted by a wide range of organisations all over the world. They have also been adopted as national standards in many countries.

INTERNATIONAL STANDARDSInternational Valuation Standards

Valuation reports are conducted by Chartered Surveyors, members of the Royal Institution of Chartered Surveyors (RICS) - and comply with the RICS Valuation Standards (Red book), which are mandatory for its members. Members must also follow the rules of conduct of RICS at all times, are committed to LifeLong Learning (LLL) and must attend the Continuing Professional Development seminars introduced by RICS. Therefore, their clients receive objective advice, delivered in a professional manner that is consistent with internationally recognised standards. RICS was founded in 1868 in the United Kingdom and is the world's leading professional body for qualifications and standards in land, property and construction with 89,000 qualified members in over 146 countries.

Royal Institution of Chartered Surveyors (RICS)

RICS Valuation Standards set out procedural rules and guidance for members in the conduct of most types of valuation instructions, which is a framework for best practice in the execution and delivery of valuations for different purposes. RICS has adopted the IVS, therefore, even though there are some differences in the detailed requirements of IVS and the RICS standards, these differences exceed the requirements of IVS.

Expert Witness

Market Research

Legal due diligence

Mergers & Acquisitions

Securitisations

Our valuation department specialises on formal property valuations for all types of properties and for most purposes, such as:

- Mortgage Lending Valuations- Matrimonial & Legal Purposes- International Financial Reporting Standards- Insurance purposes- Critical Reviews- Mergers & Acquisitions- Securitisations

Our Team

L.P. Ellinas Real Estate Consultants & Valuers’ dedicated team of qualified professionals provides specialist property advice on a wide range of services and sectors. More precisely, we provide tailor-made solutions based on a deep knowledge of the market and profound expertise in the real estate sector.

Valuation AdvisoryTailor-made solutions based on a deep knowledge of the market and profound expertise in the real estate sector.

Our skilled Chartered Valuation Surveyors team provides specialist property valuation advice on a wide range of services and sectors. Our valuation expertise covers the commercial and residential sectors as well as specialist sectors including healthcare, hospitality and leisure. This breadth of expertise enables us to advise on large mixed use portfolios and mixed use development schemes. Valuation reporting complies with the International Valuation Standards (IVS) www.ivsc.org and the RICS Standards www.rics.org .

In many cases, plant & machinery form a significant part of a company's overall investment. Especially for manufacturing companies, plant & machinery’s value sometimes exceeds the value of real estate assets. We therefore consider it essential to provide high quality valuation of industrial plant, machinery and equipment. Our experienced associates are informed at all times on new technologies, manufacturers, regulations and duties, standards, installations and maintenance in order to provide expert valuation advice.

Property Valuation Plant & Machinery Valuation

Accurate, transparent and independent property valuations are essential to the mortgage lending business, since this promotes confidence in the collateral system and guarantee the lender that even in cases of loan defaults, losses will be covered.Our Chartered Valuation Surveyors team has long experience in property valuations for secured lending purposes. Our mortgage valuations comply with the International Valuation Standards www.ivsc.org that provide a framework for secured lending purposes.

Our Chartered Valuation Surveyors undertake critical reviews of valuation reports conducted by another valuer, when a Client wishes to publicly challenge the original valuation. Our valuers exercise considerable caution when conducting critical reviews and proceed only when there is full knowledge of the first valuer’s instructions and are in possession of the same facts and figures.

IFRS (www.ifrs.com) adopt two models for the recognition of property assets in the balance sheet: a cost model, and a fair value model. Where the fair value model is applied a frequent revaluation of the asset is required. Since a number of companies have converted accounting information to IFRS in their reporting, a need for property valuation reporting complied with the IAS (www.iasb.org) and IFRS regulations has emerged. Our Chartered Valuation Surveyors team has the skills and expertise to undertake valuations for IFRS competently.

Mortgage Lending Valuations

Critical Reviews International Financial Reporting Standards

Expert Knowledge

Our Chartered Valuation Surveyors team undertakes the analysis and appraisal of a wide spectrum of property investments. Expert advice is provided to private and public sector clients, concerning new development schemes and existing property. A thorough analysis of market context as well as on administrative, legal and planning limits of each project is undertaken. Our goal is to provide our clients professional recommendation regarding market rent, occupancy and absorption and the amount of entrepreneurial profit and return for their equity, necessary to make a property financially feasible, followed by a risk analysis.

We use a combination of local knowledge and property expertise in order to provide a full planning and development appraisal to fit the owner’s or developer’ s specific requirements. We recommend the highest and best use scenario - to meet the property’s potential, taking into consideration any planning or legal restrictions. We examine all alternative possible uses and identify any barriers to development or other problems that may exist. Our experienced team is skilled to undertake appraisals of complex mixed use development schemes.

Feasibility StudiesDevelopment Appraisals

We provide our Clients with specialist advice on the latest ongoing planning legislation. Qualified members of our team are accredited to visit Town Planning Authorities across the country, request for planning regulations and restrictions related to properties of your interest, as well as for any town planning changes. In addition, our team keeps up with planning legislation reviews with the use of expert software.

Planning Investigation

Expert Witness

A Chartered Surveyor can act as an Expert Witness, who by virtue of education, training, and experience is believed to have knowledge in property issues, sufficient that others may legally rely upon the witness's specialised (technical or other) opinion. The team of our Chartered Valuation Surveyors are eligible to act as expert witnesses when requested and our valuation reports are objective, unbiased, independent, and of sufficient quality to resist challenges before the courts, tribunals and arbitrators.

Accurate insurance property valuations ensure the insurer, lender and owner that they are adequately protected in event of a casualty. Additionally, they guarantee the property owner that the cover is adequate and that he is not paying for excessive coverage.Our experienced Valuation Team provides evidence regarding the replacement cost of the building components of the property and advise on insurable values.

Our Valuation Team undertakes valuations for matrimonial and legal purposes.In court, expert evidence is requested to be delivered by qualified professionals.Whenever real estate issues are concerned, evidence must be delivered by Chartered Surveyors. In case of a divorce or separation, the division of property requires a professional opinion of value by a Chartered Surveyor. Additionally, our Valuation Team is eligible to undertake historical property valuations for tax and legal purposes, utilising database of late transactional information, historical economic data and past legislation.

In cases of buying, selling or combining different companies, business valuations are required. Business valuations include asset valuations and property valuations, conducted according to the International Valuation Standards that set a framework for this purposes. Our Chartered Valuation Surveyors team is qualified and has the necessary skills to undertake accurate, transparent and independent valuations competently.

Insurance purposes Matrimonial & Legal purposes

Mergers & Acquisitions

Agency ServicesProfound expertise in the real estate sector

L.P. ELLINAS Real Estate Consultants & Valuers Agency dept. has a team of professionals with an important experience in the field of Commercial & Residential real estate. Our professionals provide tailor-made solutions based on a deep knowledge of the market and profound expertise in the real estate sector.When representing the Seller, our team studies the property or the entire portfolio and develops a comprehensive strategy to maximize its value within the owner's investment and operational objectives, as well as its budgetary and business constraints.

We offer the following services to:

- in-depth analysis of both the market and the property- positioning strategy- development of a marketing plan- identification of potential tenants/buyers and involvement in the negotiation process

Landlord / Vendor representation

- analysis of client requirements in terms of location, area and budget- identification of the best opportunities available in existing portfolios or on the market- support in all phases of the negotiation process, up to contract editing and closing of the deal

Tenant / Buyer representation

in-depth analysisof both the market and the property

positioning strategy

development of a marketing plan

identification of potential tenants/buyers and involvement in the

negotiation process

Market research

Tenant mix

Negotiating with landlords in order to establish their requirements

support in all phases of the negotiation process, up to contract editing and closingof the deal

identification of the best opportunities available in existing portfolios or on the market

analysis of client requirements in terms of location,area and budget

Agency Services

Projectcompetitiveness

analysis

Pricing and lease/saleterms setup

Lease/Sale of the premises

Agreement terms negotiation

Lease/Sale of retail premises

Consulting support on planning issues

Sale and acquisition of warehouse and industrial land plots

Lease/Sale of warehouse space and industrial properties

Searching suitable tenants

Lease negotiations

Market advice

- Market research - Project competitiveness analysis - Pricing and lease/sale terms setup - Lease/Sale of the premises

- Tenant mix - Agreement terms negotiation - Lease/Sale of retail premises

Retail property, landlords and developers

Commercial property, landlords and developers

- Consulting support on planning issues - Sale and acquisition of warehouse and industrial land plots - Lease/Sale of warehouse space and industrial properties

Industrial property, landlords and developers

Residential property, Landlord and Tenant

- Negotiating with landlords in order to establish their requirements- Searching suitable tenants- Lease negotiations- Market advice

Assistance in the negotiation and renegotiation of lease agreements

L.P.Ellinas professionals can provide ongoing

consultancy to landlords and developers on all

the issues regarding development, construction

and use of office, retail and industrial property.

About our Property Management services

Property Management department has been founded with the scope of implementing all valuable knowledge that L.P Ellinas Group of Companies already acquires in the challenging field of commercial real estate management. Having invested in a portfolio of more than 70,000m², L.P Ellinas Group has realised from the very beginning that capital appreciation lies beneath successful property management and maintenance. Embracing the values of continuous development as well as providing client oriented services, our property management team is aiming to deliver an integrated spectrum of services to occupiers who only compromise with quality, specialty and professionalism towards the management of their working space. We have developed a strong relationship with certain third party facility management contractors, through an interactive collaboration, where shared views on property management, have led to further development of conventional procedures. Applying the analytical skills of a capable management team, blended with outsourced technical expertise, we have deployed an efficient customer-based strategy, which results in the delivery of high quality and cost effective services.

Technicalmaintenance

As long as electromechanical equipment is properly maintained and responsibly repaired, the user company ensures a functional working environment in which resources perform their very best. We provide management and maintenance on your premise's technical equipment from well trained experienced staff, ready to provide assistance on a 24/7 basis.

We undertake the following maintenance tasks:

Property ManagementHigh Quality & Cost effective

Cleaning Services Cleaning maintenance. Initial & scheduled cleaning

Setting high quality standards in the field of cleaning services has always been a top priority for all users, from a small family office to a large multinational company. Keeping this priority in mind, we provide professional cleaning services for all types of commercial properties. We perform regular quality controls to reassure that our services meet both our company’s and our clients’ expectations.

All materials and equipment which are being used from our working teams are meticulously selected, according to specific required specifications, as set from competent authorities.

- Initial and maintenance cleaning for all types of buildings- Glass panels cleaning- Carpet cleaning- Furniture cleaning- Marble crystallization- Fabric waterproofing- Dust control handling- Special cleaning projects

In more detail, LPPM undertakes:

- Medium and low voltage installations- Generators- Water supply and sewage systems- Elevator maintenance- Gas installation- Fire extinguishing and safety systems- Spare part provision on all kinds of equipment- Technical report assessment

Building's energy management

In an ever changing energy environment, where electricity has become the main component of operating costs, combined with global climate change as a result of the growing CO2 emissions, energy efficiency is becoming a major field of awareness for occupiers. We provide access to skilled professionals of the energy field, ready to assess your premises in terms of energy consumption.

In more detail, we offer:

Applying the

analytical skills of a

capable management

team, blended with

outsourced technical

expertise, we have

deployed an efficient

customer-based

strategy, which

results in the delivery

of high quality and

cost effective services.

Space study and construction

Developing a premise becomes a challenging task, when there is need for the manager to secure functionality and high-standard working conditions, while running at a strict budget (combined with no interruption of the company's core business in case of restoration). We provide consultation on issues of technical and architectural study. In addition, we undertake either the entire implementation or the monitoring of the progress of any construction project.

We provide access to skilled professionals, ready to provide assistance on the following issues:

Air condition units & air ducts maintenance

Working performance is closely related with ventilation and air conditioning quality, especially when it comes to premises with no physical ventilation. In addition, pure quality air ensures that employees remain safe against virus and bacterial transmission.From a sustainability view, the use of a well maintained ventilation and air conditioning system leads to decrease of energy costs.

We provide well trained staff, with knowledge and certifications from all the equipment companies, ready to assist you on the following tasks:

Pest Control

Ensuring that your working space remains clean of any kind of pest, secures the smooth function of your company. At the same time you guarantee that all products, raw materials and even employees remain safe from any harm that pests may cause. We provide assistance with an experienced team, well-trained in implementing an effective pest management process.

In more detail we provide:

Waste management & recycling

As part of our sustainability ethics, our services embrace the view of recycling and waste management.

More specific, we incorporate:

TechnicalServices

- Threat and risk areas identification- Customized pest control plan for both interior and exterior areas- Disinfection & deratization (traps, fumigation, etc.)- Monthly monitoring, documentation- Communication with the occupier on measures effectiveness

- Biological water treatment- Separate collection of paper, glass and plastic for recycling purposes

- Maintenance of all kind of air- condition units- Technical assessment and installation- Ventilation maintenance- Air ducts inspection (with the use of micro-cameras)- Cleaning and disinfection of air ducts

- Facilities' energy evaluation- Smart grid installation- Information gathering & occupiers' behavior analytics- Sustainability consultation/ Energy upgrade works - Energy certificates issuance- Green certificates (BREEAM) issuance

- Architectural design (both interior and exterior)- Consultation (Architect, Civil Engineer, Mechanical Engineer)- Landscaping- Building facades- Interior configuration (aluminium constructions)- Fittings (dropped ceilings, plasterboards, floors)- All types of constructions / restorations

Apart from providing a functional working space for the employees, the premises of a company is above all, a tangible asset, vulnerable to all kinds of villains, from simple thieves and burglars, to targeted spies. Keeping in mind the importance for all companies to keep their offices untrespassed from any kind of danger, we offer high-level, customized security services. With the use of a highly trained staff and the incorporation of the ISO 9001:2008 standard in our adopted security procedures, we provide an integrated security management system able to deter, detect and either delay or dynamically respond to any kind of threaat.

We offer our services in the following fields:

- Static guarding- Patrols- Reception guards- Planned events security- Malls security management- 24/7 signal receiving centre- Weekly reporting

Security servicesProperty ManagementWe are aiming to deliver an integrated spectrum of property management services to occupiers who only compromise with quality, specialty and professionalism.

We offer our services in the following fields:

Static guardingPatrolsReception guardsPlanned events securityMalls security management24/7 signal receiving centreWeekly reporting

- - - - ---

As being part of the environment, all types of buildings should adopt features that keep them in pace with nature. The most common is landscaping and apart from adding surrounding green to a building, it also retreats stress for occupiers, especially when it has been professionally developed and preserved. We provide an experienced team of agriculturists, ready to assist on any matter concerning your building’s landscape.

More detailed, we undertake:

Gardening

Restaurant management

Having selected a partner with a long experience in the field of business catering, we are able to provide a professional operation of any company restaurant. We organize your company’s dining area with well planned weekly menus, securing that all principles of Hazard Analysis and Critical Control Point system (HACCP) are strictly followed, as integrated in ISO 22000.

More detailed, we are able to provide you:

Catering

Automated vending machines

In case where time for a lunch break is restricted, the solution of an automated vending machine is a next-door solution to the occupiers’ needs. We provide a large selection of vending machines, ready to customize on your company’s needs, offering from water and refreshments to snacks and light meals.

Relocation management

Operating in a period of great uncertainty often requires active management measures, resulting either in premises downsizing, or moving into better quality space, more functional, in a way to push forward company's procedures and output. There are two crucial factors on which a successful relocation schedule is based on. Cost efficiency and strict time-frame. These are the key points which our services embrace.

What we offer to our customers is:

- Irrigation systems installation & maintenance- Pond construction & maintenance- Soil improvement- Sod installation & maintenance- Consultation on rain harvesting and grey water irrigation- Selection of right species of trees and plants - All types of pruning- Fencing

- Integrated restaurant/canteen management- Use of fresh-only and meticulously picked materials- Wide variety of meals- Focus on the use of low fat ingredients- Calorie count per meal- Dietician consultation on a weekly basis- E-ticket meals- Staff, equipment & menus provision for company events- Competitive prices

- Search of the ideal premise according to company's needs- Inspection and documentation of key features- Space upgrade prior to relocation- Tender evaluation- Monitoring redevelopment process- Supply of new office equipment- Custom made office furniture- Old furniture and equipment logistics- Initial cleaning of new premises

4 Doxis Str.546 25 Thessaloniki, GreeceTel: +30 2310 562 330Fax:+30 2310 562 345

THESSALONIKI32 Kifissias Ave, Atrina Tower151 25 Marousi, Athens, GreeceTel: +30 210 683 3787 Fax:+30 210 683 6476

ATHENS11-13 Ion Creanga Str., Sector 5 050684 Bucharest, RomaniaTel: +40 21 231 3036Fax:+40 21 231 3037

BUCHAREST

www.lpevaluers.com

Mortgage Lending Valuations

International FinancialReporting Standards

Insurance purposesCritical Reviews

Mergers & Acquisitions

Securitisations

Banks Developers

Listed Companies

Institutional Investors

Property Funds

Foundations

Private individuals