During the 2065/29.05.2006 meeting of the Board of Directors, the President of the Board Mr Arapoglou, declared that Corporate Governance rules, which the NBG Group abides with, dictate his resignation from the position of the Non Executive Member of the Board of Directors as well as that of the President.
Concerning the filling of the position of the President of the Board of Directors, he suggested the up-to-date Vice-President and Managing Director Mr Doucas Palaiologos. Mr Arapoglou declared his full confidence in the new President and the rest of the members of "The Ethniki" Insurance Company management, given their professional expertise and successful co-operation they have had over the last couple of years with the NBG Group. As a result, the Board accepted unanimously the resignation of Mr Arapoglou, replacing him with Mr Alexandros G. Tourkolias who was elected as a new Non Executive member and First Vice President of the Board of Directors, with a mandate expiring at the present Board term expiration date.

Therefore the Board structure is as follows:
President and Managing Director: Doucas Pavlos I. Paleologos, Executive Member.
First Vice President: Alexandros G. Tourkolias, Non Executive Member.
Members:
Spyridon T. Leftheriotis, Executive Member.
Anastasios A.Pagonis, Executive Member.
Non Executive Members: Alexandros P. Georgitsis,
Ioannis Ch. Kollias,
Avraam E. Moissis,
Vassilios V. Panagiotopoulos,
Stefanos G. Pantzopoulos,
Ioanns N. Politis,
Anthimos K. Thomopoulos.
Independent Non Executive Members:
Vassilios S. Fourlis,
Konstantinos Ch. Lampropoulos.