PIRAEUS FINANCIAL HOLDINGS S.A.
ANNOUNCEMENT
Following the 13.10.2008 announcement for the acquisition of 26.98% of the share capital of PROTON BANK SA and in response to a relevant question by Hellenic Capital Market Commission regarding the aforementioned transaction, Piraeus Bank clarifies the following:
(a)The transfer of shares will take effect after the successful completion of the confirmatory due diligence, which is expected to be completed by Monday 20 October 2008.
(b)Future terms and share exchange ratio for the remaining shareholders of Proton Bank will be the same as those used to conclude the acquisition of the 26.98% of Proton Bank.
(c)Any change in the managerial structure and operation of PROTON BANK will be implemented in consultation with the current Management of the Bank, in order to ensure effectiveness of operation and increased efficiency of the administration structure, with a view to shareholders' benefit.
(a)The transfer of shares will take effect after the successful completion of the confirmatory due diligence, which is expected to be completed by Monday 20 October 2008.
(b)Future terms and share exchange ratio for the remaining shareholders of Proton Bank will be the same as those used to conclude the acquisition of the 26.98% of Proton Bank.
(c)Any change in the managerial structure and operation of PROTON BANK will be implemented in consultation with the current Management of the Bank, in order to ensure effectiveness of operation and increased efficiency of the administration structure, with a view to shareholders' benefit.