Piraeus Bank S.A. announces that the Board of Directors of its affiliated companies "Olympic Commercial and Tourist Enterprises S.A." and "PIRAEUS Best Leasing S.A." resolved upon commencement of their merger procedure, pursuant to the provisions of Codified Law 2190/1920. The merger of the two companies in question, operating in the car leasing sector is expected to create significant economies of scale, to further improve their effectiveness and to strengthen their position in the car leasing market.