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9 December 2022

Minoan Group Plc
("Minoan" or the "Company")

Appointment of Savills as an Advisor

Minoan is pleased to announce that Savills, the Global Real Estate Advisors, have been appointed to work alongside the Company's Project Team and Deloitte Financial Consultants to further develop the real estate portion of the resorts at the Itanos Gaia Project in Crete (the "Project"). Savills will be using both their London and Greek offices to ensure the Project is positioned at a competitive and international level. Initially, this will involve advising the Board of Loyalward Limited, the Company's wholly owned subsidiary, on the Development plans for its 6,000 acre peninsula site in Crete.

George Mergos commented: "We are delighted to have appointed Savills, whose input and advice will be invaluable as we progress in the development of the different hotels/resorts and their associated real estate. The addition of Savills to Deloitte Financial Consultants provides us with the know-how and expertise to increase the pace of the development of the Project.  Savills will work closely with Marco Nijhof, our recently appointed Hotel and Project Development specialist.

Since we last reported on 24 October, matters have moved on significantly and we expect discussions with the Foundation to conclude in the near future. In addition, commercial and financial activities have recently picked up pace and I and my colleagues look forward to reporting in more detail on all these matters as they come to fruition."

For further information visit www.minoangroup.com or contact:

Minoan Group Plc

Christopher Egleton                                                        christopher.egleton@minoangroup.com

George Mergos                                                                georgios.mergos@minoangroup.com

W H Ireland Limited                                                        020 7220 1666
Antonio Bossi / Enzo Aliaj                                                             

Peterhouse Capital Limited                                           020 7469 0930

Duncan Vasey