Acotel : Monthly report (December 2016) required by art. 114, paragraph 5 of Legislative Decree 58/98

PRESS RELEASE

ACOTEL GROUP: monthly report required by art. 114, paragraph 5 of Legislative Decree 58/98

In compliance with the request sent by the CONSOB on 8 November 2016, pursuant to article 114, paragraph 5, of Legislative Decree 58/98, we report the following information on Acotel Group SpA and the Group that it heads as of the date of 31 December 2016:

1. Net funds with separate indication of the short-term and medium/long-term components.

   Acotel Group SpA (€000)

   31 December 2016
   A. Cash and cash equivalents	4,986
   B. Assets held for trading	751
   C. Liquidity (A + B)	5,737
   D. Current financial receivables due from related parties	1,534
   E. Other current financial receivables	1,600
   F. Current financial assets (D + E)	3,134
   G. Current financial liabilities due to related parties	(2,032)
   H. Current net debt (G)	(2,032)
   I. Non-current net debt	-
   L. Net funds (C+F+H+I)	6,840

   Acotel Group (€000)

   31 December 2016
   A. Cash and cash equivalents	9,930
   B. Assets held for trading	2,905
   C. Liquidity (A + B)	12,835
   D. Other current financial receivables	1,600
   E. Current financial assets (D)	1,600
   F. Current bank borrowings	(6,387)
   G. Current financial liabilities (F)	(6,387)
   H. Non-current net debt	-
   I. Net funds (C+E+G+H)	8,048

2. Past due payables, distributed by type (financial, trade, tax, social security or amounts due to employees) and any related initiatives in response from creditors (requests, demands, cessation of supply, etc).

   There are no past due payables of a financial, tax or social security nature or past due amounts due to employees.

   As regards past due trade payables, they are of small amounts and have not resulted in any response from creditors.

3. Key changes in relations with the Company's and the Acotel Group's related parties

At 31 December 2016, there has been no material change in relations with the Company's and the Acotel Group's related parties compared to the Interim report for the six months ended 30 June 2016 approved by the Board of Directors on 27 September 2016.

In this regard, it should be noted that related party transactions carried out by Acotel Group SpA and Group companies, including intercompany transactions, are conducted in the ordinary course of business and on an arm's length basis. There were no atypical and/or unusual transactions, or such as might be considered to be in potential conflict of interest.

The manager responsible for the Group's financial reporting, Luca De Rita, hereby declares, pursuant to article 154-bis, paragraph 2 of Legislative Decree 58/1998 (the Consolidated Law on Finance), that the information in this press release is consistent with the underlying accounting records.

Rome, 31 January 2017

For further information contact:

Acotel Group Davide Carnevale Investor Relations Tel. [phone]

e-mail: [e-mail]