Following the announcements on the 1st and 20th November 2001 in respect of their proposed merger, the managements of National Bank of Greece S.A. and Alpha Bank A.E. will today host a presentation to analysts in London.

During this presentation, the managements of the two banks will further reiterate the strong strategic rationale and financial benefits of their proposed combination. They will also provide further details on the level, breakdown and timeframe of the estimated cost savings and revenue enhancements expected to be generated as a consequence of the merger, as well as the implementation costs that will be incurred in the process.

In the framework of transparency and the need to provide equal information to the investor community, the presentation is available on the web-sites of both banks.