Alpha Bank announces the agreement for the merger by absorption of "Alpha Bank AE" and "Alpha Romanian Holdings Company AE", according to article 16 par. 18 and 5 of Law 2515/97 and 1 - 5 of Law 2166/93. The merger balance sheet date is March 31, 2003.

Alpha Romanian Holdings Company AE is a subsidiary of the Bank with a percentage of 100% and it participates to the share capital of Alpha Bank Romania with a percentage of 53.92%. As a result of the above merger, Alpha Bank will increase its direct holding to the share capital of Alpha Bank Romania by 53.92%, thus the total holding will reach 95.45%.
The Group/s participation of 96.40% to the share capital of Alpha Bank Romania will remain unchanged.