2009 KPMG Compensation and Benefits Survey-Invitation for participation

1©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

2009 KPMG COMPENSATION & BENEFITS SURVEY

2©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

OUR COMMITMENT

Following our commitment to establish the KPMG Compensation and Benefits Survey as an institution for the Cyprus Market and to provide

companies with valuable and significant information, enabling them to build their competitive advantage in the

labour market…

…we invite you to participate in the 2009 KPMG Compensation and Benefits Survey

and contribute to the success of its completion for the 2nd Year running.

3©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

The primary scope, being that of establishing a valuable tool, which shall enable companies to design Compensation and Benefits Packages, and result to a competitive advantage, the main objectives of the 2009 KPMG Compensation and Benefits Survey are as follows :

• To present the common HR policies, practices and strategies of Compensation and Benefits implemented by a representative sample of Companies operating within the Cyprus Market

• To present Remuneration and Benefits Data of 164 generic and industry - specialized positions (versus 77 positions presented in the 2008 KPMG Compensation and Benefits Survey)

Special subject for year 2009

• To present the common Human Resources practices implemented by companies in order to effectively manage the Economic Crisis (e.g. redundancies, pay cuts etc)

2009 KPMG COMPENSATION AND BENEFITS SURVEY SCOPE OF THE SURVEY

4©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

The 2009 KPMG Compensation and Benefits Survey shall focus on presenting remuneration and benefits data for 164 positions. These positions were determined and identified as significant, by:

Special requests received from participating companies in the 2008 KPMG Compensation and Benefits Survey

Focus groups with various companies operating within the Cyprus Market

REMUNERATION AND BENEFITS DATA FOR 164 GENERIC AND SPECIALISED POSITIONS

5©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

The 164 positions are generic and industry-specialized positions, applying to various industries, are

presented in the following slides

REMUNERATION AND BENEFITS DATA FOR 164 GENERIC AND INDUSTRY- SPECIALIZED

POSITIONS

6©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: GENERAL MANAGEMENT (GM)

1. General Manager

JOB FAMILY: ACCOUNTING (ACC)

2. Finance Manager3. Accounting Manager

4. Senior Accountant

5. Assistant Accountant

6. Credit Controller

7. Financial Analyst

8. Payroll Officer 9. Invoicing clerk

7©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS (IT&T)

10. IT Manager

11. Database Administrator

12. IT Programmer

13. IT Administrator

14. Network Administrator 15. Telecoms Network

Engineer

JOB FAMILY: MANUFACTURING AND ENGINEERING (M&E)

16. Production Manager

17. Shift Supervisor

18. Production Engineer

19. Purchasing Manager

20. Purchasing Officer

21. Quality Assurance Manager

22. Quality Assurance Technician

23. Production Maintenance Manager

24. Production Maintenance Engineer

8©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: SALES AND MARKETING (S&M)

25. Commercial Manager

26. Sales Manager

27. Marketing Manager

28. Business Development Manager 29. Exports Manager

30. Key Accounts Manager

31. Area Sales Supervisor

32. Customer Service Manager

JOB FAMILY: SALES AND MARKETING (S&M)

33. Sales Administrator

34. Sales Representative-Key Accounts

35. Sales Representative

36. Sales Engineer

37. Customer Service Representative

38. Marketing Executive

39. Merchandiser

40. Product/Brand Manager

9©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: SALES AND MARKETING (S&M)

41. Assistant Product/ Brand 42. Manager43. Public Relations Executive

44. Reseller Manager45. Senior Medical Representative

46. Medical Representative

47. Beauty Advisor

48. Graphic Designer

JOB FAMILY: WAREHOUSE AND LOGISTICS (W&L)

49. Warehouse & Logistics Manager

50. Logistics Manager

51. Logistics Officer

52. Warehouse Manager

53. Warehouse General Duties clerk

54. Warehouse Packing clerk 55. Warehouse Picker clerk 56. Driver- License Type B 57. Driver- License Type C 58. Warehouse Stock

Controller/Incoming clerk

10©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: HUMAN RESOURCES MANAGEMENT (HRM)

59. Human Resources Manager

60. Human Resources Officer

JOB FAMILY: ADMINISTRATION (ADM)

61. GM Ex.Secretary/Personal Assistant

62. Executive Secretary

63. Secretary

64. Telephonist/ Receptionist

65. Messenger

11©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: INTERNAL AUDIT AND QUALITY ASSURANCE (IAQA)

66. Internal Audit Manager

67. Internal Auditor 68. Quality Assurance

Supervisor (ISO)69. Health and Safety Officer

JOB FAMILY: MAINTENANCE AND TECHNICAL SUPPORT (MTS)

70. Technical Manager71. Technician/Repairer 72. Maintenance Manager73. Maintenance Officer 74. Fleet Manager

12©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: CONSTRUCTION AND DEVELOPMENT (C&D)

75. Quantity Surveyor A76. Quantity Surveyor B77. Technical Assistant Quantity Surveyor78. Project Manager79. Site Engineer80. Interior Designer81. Architect82. Architectural

Technician/CAD Technician

JOB FAMILY: CONSTRUCTION AND DEVELOPMENT (C&D)

83. Contracts Manager84. Plant Manager85. Estimating Manager86. Foreman87. Time Keeper/ Store Keeper88. Electrical Engineer89. Mechanical Engineer90. Property Sales Manager91. Property Sales Officer/ Consultant92. Property Sales Assistant/

Administrator

13©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: SHIPPING (SHIP)

93. Chartering Manager94. Chartering Assistant95. Crew Operations Manager96. Crew Personnel Director97. Assistant Operations Manager98. Assistant Fleet Personnel Manager99. Senior Fleet Personnel Officer100.Fleet Personnel Officer

JOB FAMILY: SHIPPING (SHIP)

101.Fleet Personnel Assistant102.Designated Person103.Quality and Safety Manager 104.Vetting Administrator/ Quality

and Safety Coordinator105.Quality and Safety

Superintendent/officer106.Senior Technical

Superintendent107.Technical Manager108.Technical Assistant

14©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: HOTEL AND TOURISM (H&T)

109.Hotel General Manager110.Hotel Assistant Manager111.Hotel Sales Manager112.Front Office Manager113.Front Office Desk Agent/

Receptionist114.Reservations Manager115.Porter116.Food and Beverage Manager117.Maitre

JOB FAMILY: HOTEL AND TOURISM (H&T)

118.Head Waiter/ Waitress119.Waiter/ Waitress120.Head Bar Tender121.Bar Tender122.Housekeeper Supervisor123.Housekeeper124.Head Chef125.Sous Chef 126.Cooker

15©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: EDUCATION (EDU)

127.Head Master/ Mistress128.Assistant Head Master/ Mistress129.Educational Advisor130.Career Counselor131.Head of Sciences Dpt132.Head of Languages Dpt133.Head of Maths Dpt 134.Head of Modern Greek & 135.History Dpt136.Head of Social Sciences Dpt

JOB FAMILY: EDUCATION (EDU)

137.Head of Computing Dpt138.Head of Physical Education Dpt 139.Head of Arts Dpt 140.Greek/History Teacher141.Science Teacher142.Language Teacher143.Mathematics Teacher144.Computing Teacher145.Physical Education Teacher146.Art/Music Teacher147.Social Sciences Teacher

16©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

JOB POSITIONS

JOB FAMILY: RETAIL OPERATIONS (ROP)148.Retail Sales Manager

149.Store Manager I

150.Store Manager II 151.Store Manager III

152.Assistant Store Manager

153.Store Department Supervisor

154.Cashier's Supervisor

155.Store Sales Representative I

156.Store Sales Representative II

157.Store Cashier

158.Visual Merchandiser

JOB FAMILY: MISCELLANEOUS (MSC)These positions only apply to specific industries and are not considered as generic positions

Hypermarkets/Supermarkets/Bakeries159.Butchery manager160.Butcher161.Grocery Supervisor162.Baker163.Stock Shelving/Product

Placement clerk 164. Hypermaket/Supermarket Porter

17©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Cyprus.

METHODOLOGY

18©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

METHODOLOGY

The data collection shall be assembled through a structured Questionnaire and a Positions’ Reporting Sheet

The Questionnaire and the Positions' Reporting Sheet shall be filled in collaboration with the HR Advisors during a personal meeting with the company representative

19©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

METHODOLOGY (Continued)

Job MatchingFollowing the KPMG Global methodology, the collection of the remuneration data (salaries) for the 164 positions shall be assembled through a job matching process, based on specific job descriptions which shall be provided by KPMG

The job matching process ensures an accurate and precise comparison of the positions and their job holders, as are presented in various companies

20©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Cyprus.

CONTENT OF THE FINAL REPORT

21©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

CONTENT OF THE FINAL REPORT

PART A: Presents the Executive Summary of the main findings generated in regards to the common Compensation and Benefits policies and practices, implemented by the participating Companies. Furthermore, it outlines the reporting method used to present the findings and provides the user with guidelines on ways to maximize the use of the data during the design of a Compensation and Benefits strategy

PART B: Introduces the sample of the Survey, providing a list of all participating Companies

22©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

PART C: Presents the findings in regards to the common Compensation and Benefits policies and practices implemented by the participants, as emerged from the analysis of the answers to the general questionnaire

CONTENT OF THE FINAL REPORT

23©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

PART D: Presents the remuneration and benefits data analysis in the form of Individual Position Reporting Tables (IPRT) for 164 positions. The analysis of each table is based on the data submitted by the participating companies

CONTENT OF THE FINAL REPORT

24©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

CONFIDENTIALITY IS OUR MAIN CONCERN

The information will be analyzed by a dedicated team of Compensation and Benefits Advisors, who have advanced and in - depth knowledge of the Cyprus Labour Market

The information gathered shall only be accessible by the Compensation and Benefits Advisors team and shall be strictly utilized for research purposes

While the research sample list will provide the names of the companies participating in the survey, the data provided by each company shall not be revealed in the information presented

25©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Cyprus.

WHY SHOULD I PARTICIPATE?

26©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

WHY WORTHY TO PARTICIPATE?

Opportunity to fully identify the position that your Company holds in regards to Compensation & Benefits

Upon receipt of the 2009 KPMG Compensation and Benefits Report, you shall be able to conduct your Company’s Positioning Exercise, in order to answer the following crucial questions:

“WHAT SALARY SHOULD I OFFER IN ORDER TO BE COMPETITIVE?”

“DO I PAY THE RIGHT SALARY TO THE RIGHT PEOPLE?”

“WHAT SALARY SHOULD I OFFER IN ORDER TO BE ABLE TO MAINTAIN SATISFIED AND LOYAL STAFF ?”

“WHAT SHALL I PAY TO ATTRACT THE BEST IN THE MARKET?”

27©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

POSITIONING EXERCISE EXAMPLE

28©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Cyprus.

PRIVILEGES FOR PARTICIPANTS

29©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

PRIVILEGES FOR PARTICIPANTS

1. Should you decide to participate in the 2009 Survey, you shall receive the privileged package of the final Report, which we have created especially for the participants.

Purchase the final report at the privileged price of €800 +VAT ( the price for non-participants is €1.200 +VAT)

2. Exposure of your Company’s name in our Advertising Campaign, which will be launched with the completion of the Survey and the issuing of the written Report

30©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Cyprus.

HOW DO I PARTICIPATE?

31©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

HOW DO I ENTER THE PARTICIPATION?

Should you wish to participate in the survey, please complete and return the attached Registration Form, either by fax: +357 22 209304 or email at: [email protected]

Upon receipt of your Registration Form our Advisors shall contact you in order to arrange a personal meeting

32©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International,  a Swiss Cooperative. All rights reserved.

2008 KPMG COMPENSATION AND BENEFITS SURVEY

OUR 1st SUCCESS

In the 2008 KPMG Compensation and Benefits Survey, with our participants’ valuable contributions, we achieved the following desired results:

A Sample of 100 well - established and known companies operating in the Commercial, Retail and Construction industry of the Cyprus Market

The presentation of the HR Common Practices implemented by the most well - established and known Companies in the Cyprus Market

The presentation of Remuneration and Benefits data for 77 Generic Job Positions

The salary recording of 8.260 professionals

33©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Cyprus.

With your participation and cooperation we can once again achieve the generation of a valuable Report,

which shall give you the power to OBTAIN COMPLETE CONTROL within the Employment

Marketplace

IF YOU WISH TO TAKE PART, KINDLY FILL IN THE ATTACHED REGISTRATION FORM

34©2009 KPMG Limited, a Cyprus limited liability company and member of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Cyprus.

Contact Information:

Human Resource Advisory Services

Georgia Constantinou, HR Advisor II, [email protected]

Christiana Christofi, Principal, [email protected]

KPMG Limited Cyprus

Tel.: +357 22 209107

Webpage: www.kpmg.com