Commencement of trading of new shares from share capital increase after stock option exercise

EFGEurobankErgasiasS.Aannounces the following:

OnMonday, 23 January 2006, the 47,343 new ordinary registered shares of EFG Eurobank Ergasias S.A., issued from the share capital increase of a total amount of 156,231.90 euros according to the 16December 2005 decision of the Board of Directors of the Bank , due to the exercise from the beneficiaries of stock option rights (staff and Members of the Board of Directors of the Bank and of its affiliated companies), according to the 19 May 2003 and 5 April 2004 resolutions of the Bank’s Annual General Meetings and the 29 November 2004 resolution of the Bank’s A’ Repeat General Meeting,  will commence trading intheAthensStockExchange.  After the above increase, which, according to article 13 par.9 of Law 2190/1920, does not constitute an amendment of the articles of association, the Bank’s share capital amounts to 1,053,760,788.30 euros divided in 319,321,451 ordinary registered shares, of a nominal value 3.30 euros each.

In particular, the above 47,343 new shares were allocated as follows:

a) 1,176 shares of the 4th Stock Option Plan to 3 beneficiaries at a price of 5.50 euros per share

(according to the General Meeting of 19 May 2003), and

b) 46,167 shares of the 5th Stock Option Plan to 14 beneficiaries at a price of 8.98 euros per share

(according to the General Meetings of 5 April 2004 and 29 November 2004).

The full payment of the amount of the above increase has been certified by the Bank’s Board of Directors on 19 December 2005.  The certification of the above payment has been recorded in the Register of Societes Anonymes of the Ministry of Development on 22 December 2005, and the listing of the new shares has been approved by the Board of Directors of the Athens Stock Exchange at its meeting on … January 2006.

According to the Bank’s Board of Directors decision of  9 January, 2006, the above 47,343 new shares will commence trading in the Athens Stock Exchange on Monday, 23 January 2006 and as of the same date these shares will be credited in the beneficiaries’ accounts in the Dematerialized Securities System (D.S.S).  As of the above date (23, January 2006), the opening price of the shares in the Athens Stock Exchange will be formed according to the Board of Directors ‘ decisions and the  Regulation of the Athens Stock Exchange, as in force.

For further information, Shareholders may be informed from the relevant Information Document which is available as of 4 January 2006 at the Bank’s offices in Athens, 16 Laodikias Str., 115 28, Athens, and in the Bank’s website www.eurobank.gr, as well as, by contacting, during working days and hours Mrs. Martha Fotinopoulou, at the above mentioned Bank’s office, during working days and hours (tel.:210 7452346).

Athens, 18 January 2006

EFG Eurobank Ergasias S.A.