At its meeting of 28 August 2008 National Bank's Board of Directors unanimously elected Mr. Panagiotis K. Drossos, economist, residing at Pefki (Attiki), as an independent, non-executive Director. Mr. Drossos was elected in replacement of Mr. Ploutarchos Sakellaris, who resigned, for a term equal to the remaining term of office of the latter, i.e. until NBG's AGM of 2010, pursuant to article 18, par. 7 of the Companies Act and article 18 par. 3 of NBG's Articles of Association.