Bank of Cyprus Public Company Limited (''Bank of Cyprus'') announces that on 21 May 2007, through transactions on the Cyprus Stock Exchange it has acquired a stake of 39.213.908 shares in Interfund Investments Plc (''Interfund Investments''), at the price of Euro 0,47 per share (i.e. at a total price of Euro 18,4 million), which represents 23,58% of Interfund Investments'' issued share capital.
Before these transactions Bank of Cyprus had no shares in Interfund Investments. Cytrustees Investment Public Company Limited (Cytrustees) holds 360.000 shares in Interfund Investments. After the completion of the public Offer of Bank of Cyprus to Cytrustees'' shareholders, Bank of Cyprus will end up with a stake of 50% plus 1 share in Cytrustees.
After the abovementioned transactions, Bank of Cyprus'' direct and indirect shareholding in Interfund Investments is estimated at 23,80%.
Interfund was incorporated in 1997, is an approved closed-end investment company listed on the Cyprus Stock Exchange. Based on the issued number of shares and the last announced NAV of Interfund Investments as announced on 15th May 2007, the net assets of Interfund Investments are estimated at Euro 83 million.
This announcement is made pursuant to article 171 of the Cyprus Stock Exchange Law of 2005.