PIRAEUS FINANCIAL HOLDINGS S.A.

Start of acceptance period for Piraeus Bank''s public offer to Marfin Popular Public Co. Limited shareholders

Piraeus Bank announces that the period for acceptance of its public offer to Marfin Popular Bank Public Co. Ltd shareholders will be open from tomorrow 7.2.2007 in accordance with the terms of the public offer. The acceptance period is scheduled to remain open up to and including the 23rd of March 2007. Starting tomorrow, Marfin Popular Bank''s shareholders may obtain free of charge the Public Offer Document (Information Memorandum) from the designated distribution points, namely:
1. "The Cyprus Investment and Securities Corporation Ltd" ("CISCO"), (Eurolife House, 4 Evrou street, Nicosia, ΤΚ 20597-CY 1660)
2. Piraeus Bank SA, (4 Amerikis street, 105 64 Athens)
3. Selected Branches of Bank of Cyprus Public Company Limited in Cyprus (Nicosia, Limassol, Larnaca, Pafos)
Full and detailed information on the consideration offered is set out in pages 11-18 of the Public Offer Document (Information Memorandum).