The ASPIS BANK Group continued its course of organic growth and improvement of infrastructure during the first nine months of 2007. Operations growth at Group level, illustrated by a 21% yoy increase of loans and a 16% increase of customer deposits, has led to a profit before tax of euros 12.8 million, increased by 30%. Profit after tax and minority interests amounted to euros 5.1 million against euros 7.8 million in nine-month 2006. This drop is mainly due to the charge of extraordinary taxes of euros 5.6 million for previous financial years as already reflected in the H1 2007 results. Nevertheless, organic profitability of all business lines of the Group is strong. Moreover, the strong capital adequacy ratio as well as the completion of the Bank's organizational restructure of infrastructure and procedures as signaled by the launch of the new IT system, gives the Bank greater organic and geographical growth potentials.

Core banking activities continued to support the Bank's growth, with retail banking the driving force in the growth of the Group's key financial figures. Total assets increased by 18% to euros 2.6 billion mainly driven by loan growth. In particular, loans net of provisions increased by 21% with the outstanding balance at euro 2.1 billion. Loans to households increased by 17% yoy, accounting for 55% of the loan portfolio. Mortgage loans increased by 19%, with new mortgage loan disbursements increased by 43%. Business loans increased by 26%.

Customer deposits accounted for 83% of Group total liabilities, and continued to be the main funding source of the Bank's operations. In particular, customer deposits reached euros 2 billion, increased by 16% compared to September 30, 2006.

New capital raised via the issue of Tier 1 hybrid capital of euros 40 million led to a 79% increase of group equity to euros 222 million. Including the Lower Tier 2 subordinated notes of euros 50 million total regulatory capital has increased by euros 90 million in 2007.

Intense competition and consecutive ECB base rate increases combined for a modest increase of operating income by 5% to euros 70 million, based on recurring and steady sources of income, i.e. net interest and commission income. Net interest income increased by 3% and reached ?41 million. Net commission income increased by 10%, to euros 21 million. Loans continued to be the main source of interest and commission income. More specifically, interest income from loans increased by 21% accounting for 88% of total interest income. Commission income from loans increased by 20%.

The Chairman and Managing Director of ASPIS BANK, Mr Constantine Karatzas, referring to the 9-month results stated the following: "During recent years we have undertaken a number of important actions that increased our size, further strengthened our capital adequacy and restructured our organization. In this context, we put into operation the new core banking IT system in early October. We have now set the groundwork that will enable us to move on to the next phase of targeted growth of profitable sectors, such as consumer credit and SME financing, and to our expansion to the markets of New Europe. The satisfactory growth rates as well as the benefits from the implementation of our strategy will soon lead to superior performance and add value to our Shareholders".