Piraeus Bank S.A. announces its second residential mortgage-backed securitization transaction of a total issue size of Euro 1,250,000,000 in accordance with the provisions of law 3156/2003. The issue of the mortgage-backed bonds, which will be placed following a series of presentations to institutional investors abroad, will take place through the special purpose vehicle, incorporated in London, having the name ?Estia Mortgage Finance II Plc? and is expected to close towards the end of July 2007. UBS Limited has been appointed as Arranger of the issue and UBS Ltd and Barclays Bank Plc have been appointed as Joint Lead Managers. The securities have been rated by the rating agencies Standard & Poor's, Fitch and Moody's.