In response to certain media reports, ATEbank states the following:

Since early 2010, as it is known, the Group has been implementing an approved-by-the European-Commission Restructuring Plan with key targets to clean up its loan portfolio, streamline its operations and secure its long-term financial viability. The Plan has so far been consistently implemented and has delivered the expected results - as it is also confirmed by an independent audit firm that has undertaken the monitoring of the project in accordance with the clauses laid down for these cases by the European Commission's Directorate General for Competition. It should also be noted that the Plan is not affected by the recent Blackrock loan book review findings.

ATEbank's participation, as this is the case and for other Greek banks, in the GGBs voluntary exchange program (PSI), contributing to the sustainability of the Greek public debt, calls for covering the capital needs arising from impairments on the Greek Government Bonds that the Bank holds.

As it is already known, it is stipulated that the capital deficiency of the privately owned Greek banks arising from this participation could be covered by the Greek Financial Stability Fund as well.

For ATEbank, in which the majority of shares is owned by the Greek State, the process to cover the capital needs arising from the participation in the program, part of which has already been reflected in the financial statements as of 30/6/2011, is under development by the Ministry of Finance in cooperation with the Bank of Greece. In this context, ATEbank's management has already submitted relevant proposals.