EFG Eurobank Ergasias, Eureko, parent company of Interamerican, and Novabank have agreed the terms under which Eurobank will acquire 100% of Intertrust Mutual Fund Management Company.

The completion of the transaction is subject to due diligence and approvals from all competent authorities including the Capital Markets Commission, Bank of Greece and the Competition Commission.

Intertrust, with approximately euros 2.2 billion assets under management at year-end 2003, offers a variety of equity, bond and money market funds. Intertrust is the fifth largest mutual fund management company in Greece and manages mutual funds under the INTERAMERICAN and NOVABANK trademarks. The terms of the agreement do not include the management of the Novabank family of funds, which currently amount to approximately euros 400 million. Interamerican will continue to distribute mutual funds under the INTERAMERICAN label.

Furthermore, Eurobank and Interamerican are reviewing a broader cooperation in the distribution of financial products and selected insurance products both in Greece and in Southeastern Europe. This cooperation is expected to result in a broader offering for customers of both companies and increased growth opportunities for both distribution networks.-