The Board of Directors of GENIKI Bank S.A. during its session on 6 June, 2007 decided to propose to the Annual General Assembly:
1. A reduction of the Share Capital by Euro 274.423.313,30 by setting off the accumulated losses, with the reduction of the par value per share from Euro 5,77 to Euro 1,07 per share.
2. A Share Capital Increase by Euro 210.196.580,00, by payment in cash, by the issuance of 52.549.145 at a nominal value of 1,07 per share new shares and by the procedures of the exercise of the pre-emptive right in favour of existing shareholders and by the issuance of 9 new shares for every 10 old ones at the proposed price of 4 euros per each new share.
Also, the BoD during its session approved the report of the BoD of Geniki Bank, to the General Assembly of Shareholders of Geniki Bank on 28th June 2007, according to the article 289 of the regulation of AΤΗΕΧ and the article 9 of the Law 3016/2002.