ALPHA BANK has successfully completed the first solely arrangement of a syndicated long term facility by a Greek Bank for the amount of USD 50,000,000 on behalf of the Ministry of Public Works Transport and Housing of Romania. The facility was signed on June 13, 2003 in Bucharest and is fully guaranteed by the State of Romania.

The purpose of the financing is the implementation of the programme of rehabilitation of the defective communal roads, the scope is to fight the continuing depopulation of villages, and is regarded as one of the country?s major projects before entering the European Union. The full amount of the loan will be drawn by the Ministry of Public Works Transport and Housing and then it will be transferred to the county councils which will act as implementation agents.

This highly respectful transaction has been awarded to ALPHA BANK due to the Bank?s strong commitment in the Bond Primary Market and origination of syndicated loans on behalf of either the Romanian state, or the large corporates (state owned or not) of the country.

The relationship ties of ALPHA BANK ROMANIA S.A. (subsidiary of ALPHA BANK A.E.), which has a long and active presence in the Romanian market (since 1994), with the Borrower, was also very important for the conclusion of the transaction.