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THE 4TH ANNUAL CAPITAL LINK FORUM CONFERENCE
Monday October 30, 2000

"GREECE: YOUR EMU PARTNER IN SOUTHEASTERN EUROPE"

THE COMMERCIAL BANK OF GREECE

BRIEF CORPORATE PROFILE

The Commercial Bank of Greece was founded in 1907. It is one of the largest commercial banks in the country. The relative majority of its shares are held by public entities and its shares were floated on the Athens Stock Exchange on April 8, 1909. As a large and powerful banking organization, The Commercial Bank plays a definitive role in promoting entrepreneurial and investment activities in the country and decisively contributes to the business and investment activities of the country and to the modernization of the system.

The Commercial Bank of Greece operates in both the domestic and international capital and money markets, providing a full range of traditional and modern banking products and services which cover the savings, credit, and investment needs of its customers, private individuals and corporations. At the end of 1999, net profit before tax was GrD 311 billion (including capital gains of GrD 218.9 billion from the sale of the lonian Bank). Bank assets were GrD 4.5 trillion, deposits were GrD 3.5 trillion, and capital was GrD 591.4 billion.

The bank operates in Greece with a network of 380 banking units and 7,465 employees. The Commercial Bank Group is comprised of banks and companies, which include insurance, investment, venture capital, factoring, leasing, mutual funds and securities and provide a wide range and substantial number of financial products and services. The group of companies hold important positions in their respective markets and plays a significant role in the developments of the domestic financial system and in the progress of the economy.

Commercial Bank maintains a network of branches in Germany (6 branches) and in Cyprus (4 branched and an Off-Shore banking unit) as well as a branch in London. In the Balkan and Black Sea countries, the bank has a dynamic presence and is developing its activities in conjunction with the European Bank for Reconstruction and Development (EBPD) by establishing subsidiary banks. In this way, it is actively participating in the financial sector developments in these countries while supporting Greek businesses, which are operating in the area. Its target is to exploit the opportunities offered in these markets and to become a great economic power in this regional area. Subsidiary banks are already operating in Bulgaria, Romania, Georgia, Moldova, Albania and Armenia.

In June of 2000, Commercial Bank entered into a strategic alliance agreement with the international banking group Credit Agricole (C.A.), with the objective of exchanging know - how and exploiting the comparative advantages of the two groups. In the context of this agreement the Commercial Bank of Greece Group of Companies transfers to the Credit Agricole, a block of stocks equivalent to 6.7% of the share capital of the bank.

This was a positive direction for the Bank's development since the reinforcement and shielding of the Commercial Bank was achieved during a period of intense competition on both the domestic and European level.

The Commercial Bank's profile has immensely changed over the last three years as is evident from the satisfactory progress of all the financial highlights, which characterize a modern banking organization.

Today, the Commercial Bank possesses all the necessary prerequisites to play a significant role in the Greek banking system.

ORGANIZERS