Following yesterday''s announcement in respect of an agreement reached with Marfin Popular Bank Public Co. Ltd, Piraeus Bank would like to clarify that the Public Offer submitted to the shareholders of Marfin Popular Bank Public Co. Ltd, shall continue to be in typical effect, as provided by existing Merger & Acquisition Regulations which allow for withdrawal only in extraordinary circumstances, until the extraordinary General Meeting of Piraeus shareholders scheduled for 14 March 2007 has taken place in order to resolve if a capital increase for the purposes of the Public Offer should be approved.