ALPHA ΕΠΕΝΔΥΣΕΩΝ Α.Ε.Ε.Χ.

Approval of the merger of the company by absorption by Alpha Bank.

The Extraordinary General Meeting of Shareholders of Alpha Investments held on 14 October 2003 approved the merger of the Company by absorption by Alpha Bank.

The merger procedure will be completed after the adoption of the corresponding resolution by the Extraordinary General Meeting of Shareholders of Alpha Bank as well the relevant authorisation by the competent Authorities.