The Board of Directors of Geniki Bank S.A. during its session on May 25, 2006 decided the following:
1. The approval of Mr. Michel Fenot's resignation as a member of the BoD. He will take the place of Deputy General Manager and he will remain responsible of the bank's commercial activities.
2. The election of Mr. Patrick Couste as a member of the BoD and his placement as Deputy Managing Director. Mr Couste was born in 1948 and holds a degree in Business Administration and Law. He started his career in Societe Generale in Bordeaux and then moved to London, Edinburgh and Bahrain. Afterwards he returned to the French network in Lyon, Avignon and Paris. He was in his previous position Deputy General Manager of Societe Generale, Argentina.

After the election of Mr. Couste ,as Deputy Managing Director, the bank's new Management team is as follows:
Managing Director: Mr. Jacques Tournebize
Deputy Managing Director: Mr. Patrick Couste
Commercial Area: Deputy General Manager: Mr. Michel Fenot
Administration Area: Executive Director: Mr. Patrick Debaene

The composition of the new Board of Directors is as follows:
Mr Tryfon Koutalidis, Chairman of the Board,(Non- Executive member)
Mr Meletios Rokas, Vice - Chairman of the Board (Non-Executive Member)
Mr Jacques Tournebize, Managing Director (Executive Member)
Mr Patrick Couste, Deputy Managing Director (Executive Member)
Mr.Patrick Debaene, Executive Director (Executive Member)
Mr.Philippe Vigue, (Non-Executive Member)
Mr.Marc Breillout, (Non-Executive Member)
Mr.Jean-Louis Mattei, (Non-Executive Member)
Mr. Ilias Kalivas, (Non-Executive Member)
Mr.Christos Akkas, (Independent, Non-Executive Member)
Mr.Dimitrios Goulousis, (Independent, Non-Executive Member).