MIDI plc - Interim Directors’ Statement

On 11 May 2011 MIDI plc published its Interim Directors’ Statement covering the period from the start of their financial year on 1 January 2011 to date. The MIDI Group explained that during the period under review the delivery of apartments by way of the signing of the final notarial deed of sale transferring title to purchasers continued and the Company handed over 18 apartments with a selling value in excess of €14 million. Moreover, finishes on the 22 new apartments overlooking Pjazza Tigne are proceeding well in anticipation for the expected launch later this year.

The Directors also stated that during the period under review construction works were concentrated on the concluding stages of the Tigne North basement levels. The Group is currently in the final discussions with MEPA for the issue of the full development permits for the same phases.

The MIDI Group concluded by stating that it continues to focus on strengthening its operating profit and the Board of Directors is confident of achieving further positive financial results during 2011.