In accordance with article 16, para. 13 of codified law 2190/1920 and article 291 of the Athens Stock Exchange Regulation, the Board of Directors of Piraeus Bank announces that on 26.09.2006 it resolved on the sale to foreign institutional investors of four million (4,000,000) maximum treasury shares in the period of time from 27.09.2006 to 16.10.2006 at the minimum selling price of Euro 20,00 per share.