Pursuant to the resolution No. 3/347/12.07.2005 of the Board of Directors of the Capital Market Commission, Emporiki Bank of Greece S.A. announces the following:
Groupama S.A., Emporiki Bank of Greece S.A. and Crιdit Agricole S.A. announce that they have reached an agreement on a definitive list of key terms and conditions for the acquisition by Groupama International of 100% of the shares of PHOENIX METROLIFE EMPORIKI HELLENIC COMMERCIAL INSURANCE S.A., and are in exclusive negotiations to finalise such terms and conditions. The relevant agreements will be subject to the necessary authorizations required by law. When the relevant agreements are finalised, a further announcement will be made.
The contemplated transaction encompasses all the current operations of PHOENIX METROLIFE EMPORIKI HELLENIC COMMERCIAL INSURANCE S.A. and foresees that Emporiki Bank and PHOENIX METROLIFE EMPORIKI HELLENIC COMMERCIAL INSURANCE S.A. will maintain a cooperation for the distribution of some non life insurance products.