Alpha Bank refers to a resolution of its Annual General Meeting of Shareholders dated 18.4.2006 to repurchase own shares, in accordance with article 16 (5) of codified law 2190/1920. According to the aforementioned resolution, Alpha Bank may, until 17.4.2007, repurchase up to 3% of its outstanding, at any given time, paid-in share capital, which currently corresponds to 8,736,108 shares, at a purchase price per share no less than Euro 5.00 and no more than Euro 36.40. Following the approval by the Annual General Meeting of Shareholders, dated 18.4.2006, of the issue and distribution of bonus shares and upon ratification of the same by the competent authorities, the number of shares to be repurchased will be adjusted to a maximum of 12,230,552, and the purchase price per share will be no less than Euro 3.90 and no more than Euro 26.00.