The Shareholders' Annual General Meeting (AGM) of the Bank of Cyprus Public Company Ltd ("the Bank") held on 30 May 2006 unanimously approved the proposal of the Board of Directors for the payment of a dividend to shareholders of C£0,07 (Euro 0,121) per share. The ex-dividend date is Friday, 2 June 2006. Transactions that take place up until Thursday, 1 June 2006, will be eligible to receive the dividend, i.e. the dividend record date is 6 June 2006. The dividend will be paid to the eligible shareholders on Tuesday, 27 June 2006 (1 Calculated using the exchange rate Euro1=C£0,576. The dividend payment will be made using the exchange rate in force on the previous working day immediately preceding the ex-dividend date and may differ from the one used for the purposes of the present announcement).