In accordance with article 53 of Law 3371/2005 (Official Gazette 178/14.7.2005) and resolution 13/375/17.3.2006 (Official Gazette Β/568/8.5.2006) of the Board of Directors of the Hellenic Capital Market Commission, Piraeus Bank S.A. announces the following: The shares that shall result from the undisposed share fractions following the Bank's share capital increase through distribution of free shares (as resolved by the 2nd Repeat General Meeting of Shareholders on 15.05.2006) shall be liquidated through the Athens Stock Exchange after 22.12.2006 (expiry of the six-month deadline in order to obtain whole shares)with the following procedure: By resolution of the Capital Market Commission, upon a relevant request of the Bank, a liquidation license shall be granted, a Member Broker of the Athens Stock Exchange shall be appointed to conduct the liquidation, and a date shall be set for commencement of the liquidation process. The net result of the liquidation, after deduction of all kinds of expenses and taxes, shall be deposited with the Deposits and Loans Fund in favour of all eligible shareholders pro rata to their fractions. After completion of the liquidation, the Bank shall make a new announcement, to inform eligible shareholders on how to collect the corresponding amount from the Deposits and Loans Fund. For more information or clarifications, shareholders are kindly requested to contact the Share Register Department of Piraeus Bank (tel. 210-3335211, 210-3288011, 210-3288737 and 210-3335039, 4, Aristidou str., Athens).