ALPHA SERVICES AND HOLDINGS S.A.

ANNOUNCEMENT

Alpha Bank announces that, from 17.12.2007 onwards, trading will commence for the 188,265 newly issued, registered, voting shares of the Bank, arising from the recent share capital increase of Euro 734,233.50 due to the exercise of stock options by 15 beneficiaries, namely executive members of the Board of Directors, managerial staff and employees of the Bank and its affiliated companies, of 188,265 options at an exercise price of Euro 20.61 each.
The full payment of the above share capital increase has been certified by the relevant decision of the Board of Directors of the Bank of 27 September 2007, following the decisions of the General Meetings of Shareholders dated 6 June 2006, copied in to the Ministry of Development and subsequently registered in the Company Register (M.A.E) with decision number Κ2-17202/7.12.2007.
The Board of Directors of the Athens Exchange, in its meeting on 13.12.2007, approved the trading of the 188,265 new shares of Alpha Bank.
The 188,265 new shares will be credited to the accounts of the entitled shareholders in the Greek dematerialized securities system (Σ.Α.Τ.) on 17.12.2007, and, on the same day, will be available for trading in the Athens Exchange. Alpha Bank's share price will be adjusted accordingly on the same date, as determined by decision no 35 of the Board of Directors of the Athens Exchange.
For any further information, Shareholders can contact the Shareholders' Section of Alpha Bank, during working days and hours, (tel. +30 (210) 326 0000) or visit the Bank's website www.alpha.gr.