PIRAEUS FINANCIAL HOLDINGS S.A.

Announcement

Piraeus Bank S.A. announces that it has completed its second securitization of business loans in the amount of Euro 900,000,000 in accordance with the provisions of law 3156/2003. The notes were issued by "AXIA II Finance Plc", a special purpose vehicle, incorporated in London. Arranger of the issue was Deutsche Bank AG (London Branch). The securities have been rated by Moody's.