In accordance with the provisions of applicable law and the Regulation of the Athens Exchange, Piraeus Bank S.A. announces that its Management has resolved to sell, by way of a private placement to an institutional investor/ institutional investors, up to 13,280,976 treasury shares, representing up to 3.95% of the Bank's issued and outstanding ordinary shares. It is noted that the share repurchase program of Piraeus Bank has been suspended, in accordance with the provisions of article 28 par. 2 of Law 3756/2008.