NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN ANY FORM, IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, OR JAPAN, OR TO ANY OTHER COUNTRY IN WHICH ACCORDING TO THE LAWS OF SUCH COUNTRY, THE OFFER MENTIONED IN THIS ANNOUNCEMENT IS ILLEGAL OR CONSTITUTES BREACH OF ANY APPLICABLE LAW, RULE OR REGULATION

The Bank of Cyprus Group announces to the investing public that the Cyprus Securities and Exchange Commission has approved the Supplementary Prospectus relating to the Share Capital Increase in the Form of a Rights Issue on 8 November 2005.

The Supplementary Prospectus for the Bank's share capital increase as approved by the Cyprus Securities and Exchange Commission will be available without charge:

In electronic form as from 9 November 2005 at:
- the Bank of Cyprus' website (www.bankofcyprus.com select Investor Relations / Prospectuses), and
- the website of the Manager of the Issue, The Cyprus Investment and Securities Corporation Ltd (CISCO) (www.cisco-online.com.cy)
- the website of the Athens Exchange (www.ase.gr)

In printed form as from 22 November 2005 at:
- the Bank's Headquarters (51 Stassinos Street, Ayia Paraskevi, Strovolos, Nicosia, Cyprus),
- the Bank's Shares & Bonds Department (EuroLife House, 4 Evrou Street, Nicosia), '
- the Bank's Custody, Shareholders and Derivatives Clearing Department in Greece (170 Alexandras Avenue, Athens), and
- the Head Office of the Manager of the Issue, The Cyprus Investment and Securities Corporation Ltd (CISCO) (EuroLife House, 4 Evrou Street, Nicosia, Cyprus).