Share Capital Increase in the Form of a Rights Issue:

RESULTS OF SUBSCRIPTION BY HOLDERS OF RIGHTS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN ANY FORM, IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, OR JAPAN, OR TO ANY OTHER COUNTRY IN WHICH ACCORDING TO THE LAWS OF SUCH COUNTRY, THE OFFER MENTIONED IN THIS ANNOUNCEMENT IS ILLEGAL OR CONSTITUTES BREACH OF ANY APPLICABLE LAW, RULE OR REGULATION

The subscription period of the Rights issued by the Bank of Cyprus Public Company Ltd ("the Bank") has ended today.
Approximately 411 million Rights were exercised by their holders who subscribed for approximately 68,5 million shares, representing a subscription ratio of approximately 88%.
The Bank has decided to proceed with the placement of up to around 9,4 million shares that will result from the exercise of up to around 56,4 million Rights which were not exercised by their holders during the subscription period, as stipulated in Term 7.0 of the Prospectus dated 21 October 2005, as per the procedure described in the Bank's announcement dated 9 December 2005.