PIRAEUS FINANCIAL HOLDINGS S.A.

ANNOUNCEMENT

Piraeus Bank announces that the Board of Directors has appointed Mr. George Mantakas as its new Chief Risk Officer to head the Group Risk Management Division as of June 6th, 2011. Mr. Mantakas is succeeding Mr. Michael Charalambides who has moved on to a similar position in the wider financial sector.
Mr. Mantakas is a graduate of the Athens University of Economics and holds postgraduate and a doctoral degrees in Economics from the University of Rochester New York.