According to the Terms of Issue of the Bank of Cyprus Ltd Centenary Warrants 1999/2003 (the Warrants), the Last Subscription Date of the Warrants by their holders was October 31st 2003.

The Warrants exercised by their holders over the Subscription Period as a percentage of the total Warrants outstanding (33.664.226) was approximately 65%. The exact number of Warrants exercised by their holders will be determined upon the clearance of the funds in relation to the payment of the Subscription Price of the Warrants.