On Friday, 5 May 2006, the 323.816 new ordinary shares of Bank of Cyprus Public Company Ltd ("the Bank") will be introduced for trading on the Cyprus Stock Exchange and the Athens Exchange. The new shares to be introduced have resulted from the exercise of 323.816 Share Options on 31 March 2006 by 508 beneficiaries (staff of the Bank of Cyprus Group) at the exercise price of C£3,26 per new share, according to the 19 April 2000 resolution of the Bank's Extraordinary General Meeting and the 19 January 2001 resolution of the Bank's Board of Directors. After the above increase, the Bank's share capital amounts to C£272.819.722 divided into 545.639.443 ordinary shares, of a nominal value of C£0,50 each. The listing of the new shares has been approved by the Boards of Directors of the Cyprus Stock Exchange and the Athens Exchange at their meeting on 27 April 2006. As of 5 May 2006, the opening price of the Bank's shares on the Athens Exchange will be adjusted according to the Regulation of the Athens Exchange. As of the same date, the new shares will be credited in the Dematerialised Securities System ("DSS") accounts of the beneficiaries who have elected to have their shares registered on the DSS.