Piraeus Bank announces pursuant to article 16, par. 10 of Law 2190/1920 and article 290, par. 1 of the ATHEX Rules, that its Annual General Meeting of Shareholders, which convened on 03.04.2007, approved a share buyback programme to be effected through ATHEX pursuant to the provisions of article 16, par. 5 to 14, of Law 2190/1920, i.e. for a maximum number of 27,019,503 shares corresponding to 10% of the total number of issued shares. The range of purchase prices was set between EUR 5 (lowest) to EUR 40 (highest) while the buyback programme shall expire one calendar year from today, i.e. on 03.04.2008, unless terminated earlier.