Alpha Bank intends to sell up to 12 million ordinary shares that it currently holds as treasury shares through Ionian Holdings. At present, Alpha Bank, through Ionian Holdings, has about 15.8 million treasury shares which represent 8.6% of its outstanding capital.

JPMorgan and UBS will act as joint bookrunners on this transaction, with Alpha Finance acting as the placement agent in Greece.

The shares are to be placed by way of an accelerated bookbuild process to institutional investors. Alpha Bank has committed to a lock-up period of 180 days with respect to the issue or sale of equity.

Enquiries:

Alpha Bank

Marinos Yannopoulos Tel: 0030 210 326 2366

Michael MassourakisTel: 0030 210 326 2828

JPMorgan

Edward Sankey -Tel: 0044(0) 20 7325 9599

Alpha Finance

Paris Vassialidis -Tel: 0030 210 326 7818

Financial Dynamics

Geoffrey Pelham-Lane (London)Tel: 0044(0) 20 7269 7294

Alastair Hetherington (Greece)Tel: 0030 210 725 8194

UBS

Louise Wilson

Tel: 0044(0) 20 7568 1746