12 July 2007

Strong market response for Greek Postal Savings Bank, both from Greece and overseas

Approximately 3 times oversubscribed even with a premium!!

The Greek Postal Savings Bank Société Anonyme would like to inform you that its shareholder, "The Greek State", announced today that on 11.7.2007, it successfully completed the sale of 28.173.354 of the Bank’s common shares, through private placement with investors in Greece and overseas, through the rapid process of an offer book. This offering was approximately 3 times oversubscribed, with the offering price for each share at 18,10 euros, setting at the same time a small premium compared with the closing price on 9.07.2007, and revenues for the State amounted to approximately 510 million euros. With the above offering of shares, which represent 20% of the Bank share capital, the State's direct participation fell to 34,43%, while its indirect participation with holdings of 10% through the Hellenic Post remained unchanged, which will ensure greater flexibility in handling a series of basic issues concerning the Bank Management, strengthen competitiveness in the banking system and provide benefits to company shareholders and customers.

In response to the disparate interests that have recently attempted to undermine the Greek Postal Savings Bank and its President Mr. Panos Tsoupidis, the Market today confirmed its trust in the dynamic growth of the Greek Postal Savings Bank, a course which involves its evolution into an integrated, independent, up-to-date and strong Bank.

A Bank that maintains its social nature and all the traditional values it has historically upheld, and which targets and supports mainly those with middle and low incomes.

A Bank whose strength relies on and supports the super-human efforts of its employees, who have actively supported and continue to support the evolution of the Greek Postal Savings Bank, over the past 3.5 years. Efforts which even the most complex and demanding investors on the Market recognise.

A Bank which will continue to enact an essential role in the Greek banking world, and whose contributions form developments that are set into motion.

The successful growth of the Greek Postal Savings Bank starting in 2004 with the success of the recent placement, were the results of the exceptional collaboration and clear-cut policy which was provided to its management by the Ministry of Economy and Finance and particular by the Minister Mr. George Alogoskoufis. The Greek Postal Savings Bank has set aside inertia and inaction and replaced these with dynamic growth, maximising its value for shareholders.

In 2004, the old and loyal friend of ordinary folk came back to life. In 2006, this friend came of age. In 2007 we open our stride with assurance and decisiveness continuing on our dynamic course.