€1,183,173,068 aggregate principal amount of Convertible Equity Notes due 2010 (the Notes) Convertible into Ordinary Shares of the Issuer
NOTICE FOR THE EXERCISE OF THE OPTIONAL REPURCHASE RIGHT
In accordance with Condition 5.2 of the terms and conditions of the Notes (the Conditions) set out in the "PROGRAMME FOR THE ISSUANCE OF CONVERTIBLE NOTES UNDER LAW 3156/2003" established by NBG on September 10, 2010 (the Programme) and included in NBG's prospectus dated September 16, 2010, which has been prepared, approved and published in accordance with Law 3401/2005, NOTICE IS HEREBY GIVEN to the holders of Notes that the Issuer hereby exercises its option to repurchase all of the outstanding Notes, which have not been converted or purchased (and cancelled) by, or prior to, 5.00 p.m. (Athens time) on October 19, 2010 (the Repurchased Notes), at the principal amount of €5.20 per Repurchased Note.
Provided that the relevant Certificates representing Repurchased Notes are delivered to the Issuer on October 19, 2010, either automatically by the Custodian pursuant to Condition 5.2 or otherwise, payment to the relevant Noteholder of the outstanding principal amount of its Repurchased Notes will be made by the Issuer on October 21, 2010, in accordance with Condition 5.2 and Condition 6.3.
Capitalised terms not otherwise defined in this Notice shall have the meaning provided to them in the Programme.