NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

In line with the Company's investment strategy to further expand its investment portfolio, Eurobank Properties Real Estate Investment Company (Eurobank Properties REIC), has entered into a promissory contract to purchase, subject to certain conditions, a Romanian joint stock company, that owns a retail building under construction. Upon completion, the building will have a gross leasable area of approximately 8,950 square meters.
The property is located in Iasi, 113 Tudor Vladimirescu Blvd and upon completion will be a retail building already leased to SC Praktiker Romania SRL through a guaranteed 15 year lease agreement. The lessor grants the lessee three options of 5 years each for renewal of the lease agreement under the same conditions.
The price for the acquisition of 99.99% of the shares of the Romanian joint stock company that owns the retail building has been agreed at euro 14.5 million, which was calculated (for the purpose of the sale price) on a debt free basis. Eurobank Properties REIC has made an advance payment of euro 2.9 million and the remaining price will be paid upon completion of all construction works, undertaken by the sellers, final delivery to the tenant and signing of the share purchase agreement.
The sellers are required to complete the construction of the retail building in compliance with agreed technical specifications and deliver the property to the tenant, which is expected to take place by 15th December 2007.
According to Mrs Theresa Messari, Investor Relations Manager of the Company, "The present investment will be financed through the proposed share capital increase of the Company. The acquisition of these properties is in line with the Company's investment strategy for future growth. We intend to fully profit from the momentum created by the recent amendments to Greek law regarding Greek REICs (in this case the acquisition of SPVs and the ability to enter into promissory notes) and the current investment opportunities especially in the CEE real estate markets."
This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia). This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.