Announcement

Nicosia, 3 January 2012

Bank of Cyprus Public Company Ltd (“the Bank”) announces that Mr Andreas Jacovides has submitted his resignation from his position as a member of the Board of Directors of the Bank from 1 January 2012. Mr Jacovides, has reached 75 years of age and, according to the Articles of Association of Bank of Cyprus, must retire from the Board of Directors by the next Annual General Meeting of the Bank.

 The Board of Directors has accepted Mr Jacovides' resignation and expresses its warmest thanks for his valuable contribution to the Group which he has served as a board member since 2003.