CYPRUS POPULAR BANK PUBLIC CO LTD

Announcement

Further to its announcements of 19/03/2007 and 18/09/2007 concerning acquisition of the Ukrainian "Marine Transport Bank" (MTB), Marfin Popular Bank Public Co Ltd (MPB) announces the following: ¨ The acquisition takes place in the context of strengthening MPB's presence and provision of banking and financial services in south-east Europe and is expected to have a positive impact on Group results. ¨ ΜΡΒ has acquired 99,2% of the share capital of ΜΤΒ and its three affiliated companies, Investment Lease Company Renta, Premier Capital and Sintez Autoservice. The transaction was at arm's length and the goodwill resulting from the acquisition has been calculated, on a preliminary basis, at 105 million dollars. ¨ Due diligence studies concerning the acquisition of MTB's share capital have been prepared by the international accounting firms KPMG and PricewaterhouseCoopers and a statutory audit has been carried out by the international law firm Chadbourne and Parke. ¨ According to the company's audited financial statements for 2006, net profit was 4 million dollars. Shareholders' interest amounted to 39 million dollars and advances and deposits to 175 million dollars and 179 million dollars, respectively.