Piraeus Bank S.A. completed, yesterday, the procedure for the acquisition of Olympic Emporikes kai Touristikes Epicheiriseis S.A., an affiliate of Avis Europe Group Holdings BV in Greece. The acquisition involved 100% of the company's share capital, for the price of Euro 25.5 million, whereas, at the same time, the right to the exclusive use of the AVIS service mark and trade name in the field of short- and long-term car leasing was also acquired. Piraeus Bank, being in the business of long-term leasing through its affiliate, Piraeus Best Leasing, thus reinforces considerably its position in the Greek market, and creates vital synergies and economies of scale in the management of its car fleet. The total car fleet of the Group, after this acquisition, is made up of more than 26,000 vehicles. The turnover of AVIS in Greece for 2006 was Euro 81.3 million, and the before-tax profit of the company was Euro 5.4 million.