Piraeus Bank S.A. announces that its Extraordinary General Meeting of Shareholders of ordinary shares which was held on 23.12.2011 at 10:00, was attended by shareholders representing 494.770.409 shares out of a total 1.143.326.564 namely 43,27%. The General Meeting resolved on the following:

a)  Approved the share capital increase by € 400,000,000, with the issuance of 1.333.333.333 preferred non - voting shares of a nominal value of €0.30 each and cancellation of the preemptive right of existing shareholders in favor of the Greek State by way of in-kind contribution in accordance with the provisions of law 3723/2008 re “providing enhanced liquidity to the economy to address the consequences of the international financial crisis”

b)  Approved the corresponding amendment of articles 5 and 27 of the Bank's Articles of Association and

c)   Authorised  the Board of Directors for the execution of all necessary actions and powers for the implementation of the above share capital increase.

The above resolutions were approved by the Extraordinary General Meeting of the Greek State, as preference shareholder, which was held today.