Geniki Bank of Greece S.A. (“Geniki”) announces that, on 21 May 2012, its board of directors approved a transaction with Société Générale (“SG”), pursuant to which Geniki may sell from time to time to SG and SG may purchase from Geniki from time to time a portfolio comprising bond loans and other loans made to Greek companies by Geniki, against payment of the book value of loans actually purchased by SG at each relevant time and up to €500 million (the “Transaction”).

The Transaction falls within Geniki's plans to improve the management of its assets and liabilities, the purchase of loans under the Transaction would be made at the election of SG having regard to prevailing market conditions at each relevant time, while completion of each actual purchase of loans would be made following satisfaction of customary procedural and other conditions. As part of the Transaction, on 22 May 2012, Geniki and SG will enter into an agreement, pursuant to which Geniki will sell to SG and SG will purchase from Geniki up to five bond loans at an aggregate consideration of up to € 202.849.920,13 which is expected to be settled by the end of May 2012.

SG is the parent company of Geniki holding approximately 99,05% of the total voting rights therein, while the Transaction is being entered into on customary commercial terms.