Holding(s) in Company

To: Bucharest Stock Exchange

Financial Supervisory Authority

London Stock Exchange

The current report according to Art. 228 paragraphs (1) and (3) of Law no. 297/2005 on capital markets, as subsequently amended and supplemented and of Article 116 of the Romanian National Securities Commission Regulation no. 1/2006 regarding the issuers and the operations with securities, as subsequently amended and supplemented

Important events to be reported:

Information regarding the disclosure of holdings of voting rights held by Manchester Securities Corporation and Beresford Energy in Fondul Proprietatea SA falling below 20%

Franklin Templeton Investment Management Limited United Kingdom Bucharest Branch, in its capacity as Sole Director and Fund Manager of Fondul Proprietatea SA ("the Fund") hereby announces that Manchester Securities Corporation ("Manchester") and Beresford Energy Corporation ("Beresford") have sent an aggregate disclosure of holdings of voting rights in the Fund falling below 20%, as reflected in the Annex.

According to the companies' representatives, for reporting purposes, by virtue of acting in concert, the aggregated holdings (shares and share - related securities) of Manchester and Beresford as of 5 May 2015 represent 16.52% of the share capital of the Fund and 2,012,251,935 voting rights, representing 18.76% of the total number of voting rights in Fondul Proprietatea.

Franklin Templeton Investment Management Ltd United Kingdom Bucharest Branch, acting as Sole Director on behalf of FONDUL PROPRIETATEA S.A.

For the Legal Representative

Valeria NISTOR

Head of Legal

Empowered by the Decision of the Sole Director of FONDUL PROPRIETATEA S.A., Franklin Templeton Investment Management Ltd United Kingdom Bucharest Branch no. 16/07.05.2015

http://www.rns-pdf.londonstockexchange.com/rns/6900M_-2015-5-8.pdf

Report date:8 May 2015

Name of the issuing entity: Fondul Proprietatea S.A.

Registered office: 78-80 Buzesti St.,7th floor, district 1, Bucharest, postal code 011017

Phone/fax number: Tel.: + 40 21 200 9600 Fax: + 40 21 200 9631

Sole Registration Code with the Trade Register Office:18253260

Order number in theTrade Register:J40/21901/2005

Subscribed share capital: RON 11,575,064,733.65

Paid-up share capital:RON 11,229,443,001.15

Number of shares in issue:

12,184,278,667

Number of paid shares:

11,820,466,317

Regulated market on which the issued securities are traded:Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange