EANS-News: Grand City Properties S.A. /Changes in Board of Directors

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Board of Directors (Appointments and Changes)

Luxembourg (euro adhoc) - GRAND CITY PROPERTIES S.A.: Changes in
Board of Directors

Luxembourg, December 07, 2012: Mrs. Simone Runge was appointed to the
board of directors with immediate effect.

Thus the board of directors consists of the following three members
as of today:

Mrs. Cleo Koushos-Cros
Mr. Daniel Malkin
Mrs. Simone Runge

Mr. Christos Metaxas and Mr. Harislaos Koureas are no longer members
of the board of directors.

About GRAND CITY PROPERTIES S.A.

Grand City Properties S.A. is a residential property investment
company with main focus on residential investments in Germany.

Forward-looking statements

This news release may include forward-looking statements.
Forward-looking statements include, but are not limited to,
statements concerning estimates of expected capital expenditures and
associated costs, statements relating to estimates of, and increases
in, rental income, cash flows and property market values and other
statements which are not historical facts. When used in this
document, the words such as "could," "plan," "estimate", "expect",
"intend", "may", "potential", "should" and similar expressions are
forward-looking statements. Although Grand City Properties believes
that its expectations reflected in these forward-looking statements
are reasonable, such statements involve risks and uncertainties and
no assurance can be given that actual results will be consistent with
these forward-looking statements. Important factors that could cause
actual results to differ from these forward-looking statements
include the potential that the Company's projects will experience
problems due to change in market conditions, that changes in rental
prices can have a material impact and that Grand City Properties
fails to raise sufficient capital to adequately fund its expansion
activities.

Contact:
Grand City Properties S.A.
6, boulevard Pierre Dupong
L 1430 Luxemburg
www.grandcityproperties.com

Further inquiry note:
Herr Christian Hupfer
Tel.: 004930887088192
E-Mail: christian.hupfer@grandcityhotels.com

end of announcement euro adhoc
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company: Grand City Properties S.A.
boulevard Pierre Dupong 6
D-L-1430 Luxembourg
phone: 0035226187379
FAX: 0035226187779
WWW: http://www.grandcityproperties.com
sector: Financial & Business Services
ISIN: LU0775917882
indexes: Entry Standard Index
stockmarkets: Open Market: Frankfurt
language: English