ANNOUNCEMENT

 Response to an inquiry by the Hellenic Capital Markets Commission

 In response to an inquiry by the Hellenic Capital Markets Commission, National Bank of Greece announces that does not possess any inside information regarding the temporary capital buffer in the context of the capital exercise conducted by the European Banking Authority (EBA).

 On October 27^th, 2011, EBA published the analytical methodology used to assess the required capital buffers for a 9% Core Tier 1 ratio, along with the results per country.  Specifically for Greece, EBA announced only that the available €30 billion capital of the Hellenic Stability Fund exceeds the required capital estimated by EBA in order to reach a level of 9% Core Tier 1 ratio.