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PIRAEUS BANK S.A.

Announcement

February 7, 2007 Each time that Marfin Popular Bank fails in its business tactics, it resorts to legal action. Today's legal action against Piraeus Bank and its management constitutes clearly an attempt to divert attention away from fundamental strategic and value-related issues and away from Piraeus' public offer already approved by the competent authorities in Cyprus. Piraeus Bank totally refutes any assertion of impropriety and intends to contest fully this suit.



For further information, please contact: Mr. George Marinopoulos, Investor Relations Unit at Tel.: (+30) 210 333 5198 - 5027, Fax:(+30) 210 333 5079, e- mail: investor_relations@piraeusbank.gr
Distributed by Capital Link Inc. in New York at (212) 661-7566. (Mr. Nicolas Bornozis, President). This information can be also accessed at Piraeus Bank website at www.piraeusbank.gr or Capital Link's website at www.capitallink.com with historical company news.

     




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