Following the completion of the merger of Delta Singular with Alpha Bank and the discontinuance of trading of Delta Singular's shares, Alpha Bank announces and confirms that on Monday, April 18, 2005, 7,564,106 new common registered shares issued following Alpha Bank's capital increase due to the merger, will be credited to the stock accounts of the Shareholders of the absorbed company Delta Singular. Delta Singular Shareholders will exchange 10 shares of the absorbed company with 1 new common registered share of Alpha Bank A.E., of new nominal value Euro 5.35 each.

The new shares will commence trading in the Athens Exchange on Monday, April 18, 2005, and as a result, the total number of common registered shares of Alpha Bank trading in the Athens Exchange shall amount to 242,669,673 shares, of new nominal value Euro 5.35 each.

The fractions resulting from the exchange of shares will be sold and the proceeds will be paid to the beneficiaries by crediting their deposit account held in Alpha Bank or, for those who do not hold an account, through receipt via the branch network of the Bank. The date of payment of the proceeds, resulting from the selling of fractions, will be disclosed by way of further announcement. Said beneficiaries are the Shareholders of Delta Singular as of the end of the trading session on April 8, 2005.

The relevant Information Circular, which was approved by the Board of Directors of the Athens Exchange in its meeting on April 14, 2005, will be available to investors from Monday, April 18, 2005, from the Athens Exchange, Alpha Bank's Head Office, 40 Stadiou str., Athens and from the offices of the advisor to the issue, Alpha Finance, 5 Merlin str., Athens. An electronic copy of the Information Circular will be available in the website of the Athens Exchange, at the following address: www.ase.gr.

For additional information, Shareholders can contact the Shareholders' Section of Alpha Bank, during working days and hours, (tel. +30 (210) 3265810, Mr. Spyridon Grammenos).