Piraeus Bank S.A. announces, pursuant to Board Resolution 1078/29.11.2006 and the announcement dated 29.11.2006 with respect to the sale of treasury shares, the placement of ten million (10,000,000) treasury shares in aggregate, of which nine million (9,000,000) treasury shares were placed through the Placement Agents Citigroup Global Markets Limited and Deutsche Bank AG, London Branch, with domestic and international qualified investors and one million (1,000,000) treasury shares were placed with private investors. The final purchase price for all treasury shares was set at euro 22,40 per share. The sale of said treasury shares was effected through the Athens Exchange on November 30th 2006. We note that the sale of said shares is effected within 3 years as of the date of their acquisition, in accordance with the provisions of article 16 par. 12 of C.L. 2190/1920, as in force.