EFG Eurobank Ergasias S.A. (Eurobank EFG), 28.4% shareholder (directly and indirectly) of LOGIC DATA INFORMATION SYSTEMS S.A. (LogicDIS) agreed today to transfer its participation to Greek Information Technology Holdings S.A. (GIT Holdings). GIT Holdings is 100% shareholder of "SINGULAR SOFTWARE S.A." and "SINGULAR INTEGRATOR S.A." as well as other companies.

In addition, Eurobank EFG will transfer the convertible bond issued by LogicDIS to a company indicated by GIT Holdings. Conversion of this bond would increase GIT Holdings participation in LogicDIS to 42.7%.

Total consideration for the transaction was agreed at euro 23.9 million. (euro 10 million for the transfer of shares and euro 13.9 million for the transfer of the Bond). Total consideration may be reduced by up to euro 2 million, depending on the final assessment of the auditors regarding LogicDIS net asset value, following the publication of the company's financial statements for 2005.

LogicDIS is a company with a long track record and a leading position in the Greek IT services and IT solutions market. Through this transaction, a shareholder with high capital adequacy and with additional experience and know-how will join LogicDIS, in order to secure the leading position in the field. Moreover, the existing successful cooperation between LogicDIS and Eurobank EFG will be further enhanced, since Eurobank EFG signed a euro 25 million, 5-year cooperation agreement with GIT Holdings group of companies, for the provision of proprietary and third party software, consulting services, software development and maintenance services, hardware, and IT technical support. KANTOR CAPITAL was the advisor on behalf of the seller and INVESTMENT BANK OF GREECE was the advisor on behalf of the buyer.