The company The Greek Progress Fund S.A. annnounced today that its Extraordinary Shareholders' General Meeting, which met on October 31, 2005, approved the merger of the Company with EFG Eurobank-Ergasias S.A., through the acquisition of the former by the latter as well as the relevant merger agreement draft. The aforesaid merger will be completed as soon as the pertinent approvals are granted by the competent supervisory bodies. Also, a relevant press release will be published to inform the investing public about the shares' exchange process of The Greek Progress Fund S.A. with the new shares of EFG Eurobank-Ergasias S.A.