Piraeus Bank S.A. announces that it has completed its first securitization of amortizing consumer loans in the amount of Euro 725,000,000 in accordance with the provisions of law 3156/2003. The notes were issued by "PRAXIS I Finance Plc", a special purpose vehicle, incorporated in London. The Arranger of the issue was Morgan Stanley and Co. International plc. The securities have been rated by Moody's.