EUROPEAN RELIANCE GEN. INSURANCE CO. S.A.

Notification

A. The shareholder of our company Piraeus Bank S.A., has informed us with a letter that on 26/07/2007, due to the participation in our companies capital increase , his holdings percentage on the sum total of his voting rights of EUROPEAN RELIANCE S.A. was changed from 0% to 30,6852%. This percentage is analyzed in direct holdings 30% and in indirect holdings 0,6852%.
B. The shareholder of our company Mr. Christos Georgakopoulos, has informed us with a letter that on 26/07/2007, due to the companies capital increase ((waiver of old shareholders on behalf of Piraeus Bank S.A.) his holdings percentage on the sum total of his voting rights of EUROPEAN RELIANCE S.A. was changed from 29,35% to 20,55%. This percentage is analyzed in direct holdings 2,92% and in indirect holdings 17,63%. The indirect percentage is structured as follows: LAMBADA S.A. 5,376%, TAMMY EQUITIES S.A. 5,051%, Mrs Chrysanthi Georgakopoulou 3,390%, Mrs Eleni Georgakopoulou 1,947% and Mrs Eleni Georgakopoulou 1,869%.