At the meeting of the Board of Directors of the Bank of Cyprus Public Company Ltd on the 24 February 2005 among the issues to be discussed will be the capital needs of the Bank of Cyprus Group arising from the regulatory requirements of the Central Bank of Cyprus, given the expansion plans of the Group.

As has already been announced, at the afore-mentioned meeting the preliminary and final audited financial results of the Group for 2004 and the possible payment of a dividend in respect of 2004 will be examined.

The financial results for 2004 and the decisions of the Board of Directors relating to the dividend and the capital requirements of the Group will be announced on the same day to the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX) after the closing of trade and at a Press Conference in Nicosia.