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BANK OF CYPRUS PUBLIC COMPANY LTD
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Announcement
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March 17, 2008 Bank of Cyprus announces that due to the forthcoming Annual Shareholders' Meeting, scheduled for 14 May 2008, the Board of Directors has examined the issue of the two vacant positions on the Board of Directors which are expected to exist by that time, and has decided to proceed with the necessary procedures relating to the appointment of Mr. Michalis Sarris and Mr. Nicos Tsakos as members of the Board of Directors. These procedures include the securing of the necessary approvals from the relevant authorities. Mr. Mihalis Sarris studied Economics at the London School of Economics and subsequently obtained a PhD in Economics, specialising in Monetary and Fiscal Theory and Policy, from Wayne State University in the United States of America. He has worked at the Central Bank of Cyprus and at the Bank of Cyprus, and from 1975 until 2004 at the World Bank. Until recently he was the Minister of Finance of the Republic of Cyprus. Mr. Nikos Tsakos is a Greek national and a member of the well known family of ship owners, which also operates in many other business sectors worldwide. He graduated from Columbia University in New York with a degree in Economics and Political Science and obtained a Masters Degree in Shipping, Trade and Finance from City University Business School in London. He has experience in ship management from 1981.
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