The Shareholders' Annual General Meeting (AGM) of the Bank of Cyprus Public Company Ltd (the Bank) held on 6 June 2007 approved the proposal of the Board of Directors for the payment of a final dividend to shareholders of C£0,10 (Euro 0,17 *) per share. The ex-dividend date is Monday, 11 June 2007. Transactions that take place up until Friday, 8 June 2007, will be eligible to receive the dividend. The dividend will be paid to the eligible shareholders on Tuesday, 26 June 2007.

* Calculated using the exchange rate Euro 1=C£0,5782. The dividend payment will be made using the exchange rate in force on the previous working day immediately preceding the ex-dividend date and may differ from the one used for the purposes of the present announcement.