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PIRAEUS BANK S.A.

Piraeus Bank in Moscow

January 11, 2008

Piraeus Bank announces that it has received a license from the Central Bank of Russia to operate a Representative Office in Russia.
Piraeus Bank's physical presence at the Russian capital will help to the better monitoring and exploitation of business opportunities at the Russian market and the creation of significant revenue synergies with Piraeus Bank (Cyprus) Ltd.



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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