At the Ordinary General Meeting of Shareholders of Alpha Bank, which took place today, the Chairman of the Board of Directors and Managing Director Mr. Yannis S. Costopoulos announced that year 2000 was a milestone for the Bank and its Group, with the most significant event being the absorption of the Ionian and Popular Bank by Alpha Credit Bank, and the formation of Alpha Bank. The Group's profits before tax, for 2000, and after minority rights amounted to Drs127 billion (Euro373 million) as against Drs210 billion (Euro616 million) in 1999, a year during which the extraordinary conjectural profits reached Drs67 billion, and Drs89 billion (Euro260 million) in 1998, indicating an average annual increase of 19.46% for the period 1998-2000. The Group's profits resulting from the Branch Network's operation were increased by 30% in 2000 as against 1999. More specifically, net revenues from interest amounted to Drs179 billion in 2000 as against Drs161 billion in 1999 and Drs144 billion in 1998, indicating an average annual increase of 11.3%.The Group is rapidly developing, expanding its market share and indicating a note worthy financial robustness in all the relevant indices. The average annual change of the basic financial indicators during the three years 1998-2000 was as follows: - Assets 25.5% - Loans 34.9% - Deposits & Repos 20.7% - Equity Capital18.5% The past years, the Group indicated a large adaptability to the new competitive environment, which resulted from the liberalisation of the banking system. In December 2000, the Group's results (as a percentage of the average Total Assets) were as follows: - Net Interest Revenue 1.9% - Provisions 1.0% - Profits before tax & minority rights (ROA) 1.7% - Return on Equity (ROE) - (after tax and minority rights) 15.2%The capital adequacy ratio is today at 8.7% for Tier I capital and 1.7% for Tier II capital, meaning a total of 10.4%. Our target is to increase Tier II capital so that the total capital adequacy ratio remains above 10%. The Group's Equity Capital, after consolidation changes, amounts to Drs540 billion. If we add, to the latter, unrealized capital gains amounting to Drs360 billion for its portfolio and an additional Drs60billion for real estate, the total Equity Capital amounts to Drs960 billion, i.e. close to Drs1 trillion. Concerning the Bank, Total Assets on December 31, 2000 amounted to Drs9.6 trillion (Euro28.2 billion) as against Drs7.9 trillion (Euro23.2 billion) in 1999, indicating an increase of 22%. Loans amounted to Drs4.1 trillion (Euro12 billion) as against Drs3.3 trillion (Euro9.7 billion) of the previous year, an increase of 27%. Loans to industry and commerce, continue to hold the largest proportion of the loans portfolio, while housing loans showed a significant increase from Drs218.4 billion (Euro641 million) to Drs273 billion (Euro801 million), an increase of 22.1%.Deposits, including repos, were increased by 16% and reached Drs6.8 trillion (Euro20 billion) as against Drs5.8 trillion (Euro17 billion) in 1999. The Bank maintained the first position in the mutual funds' distribution. Profits before tax amounted to Drs107.2 billion (Euro315 million). Net profits for the year, after income tax, amounted to Drs73 billion (Euro214 million) as against Drs146 billion (Euro428 million) in 1999 and Drs69 billion (Euro203 million) in 1998. Return on Asset before tax reached 1.2%. The Bank's Shareholders continue to enjoy a very satisfactory return on Equity of 16%. A distribution of Drs310 dividend per share is proposed for 2000 as against Drs293 in 1999, adjusted to the number of shares today. As of 21.3.2001, the shares will be negotiated exdividend. The dividend will be paid out on 9.4.2001.Mr. Costopoulos also referred to the rapid adjustment of the Group to technological developments that led to offering electronic banking transactions through the Web (Alpha Web Banking) and stock market transactions (Alpha Trade) via personalcomputers, mobile phones (WAP) and ATMs, and a call centre will be operating within the year by Delta Infromatics at a specially designed building in Krioneri. The Alphalink network was fitted with terminals of the latest technology that annihilate the processing time for transactions, service smart cards and transactions by using Personal Identification Numbers (PIN). These developments are part of the Bank's preparation for the advent of electronic commerce. In this area, the Bank is completing its negotiations for its participation in Cosmo-one, a company, which offers the infrastructure for electronic commerce, as well as with Proton World International for drafting the relevant specification and the final agreement for the issuance of a smart card as an electronic portfolio.We are co-operating with the National Bank of Greece and the Chamber of Commerce and Industry of Athens aiming at the establishment of a subsidiary company for securing signatures in electronic transactions. As regards loans and more specifically consumer and housing loans, due to the limitations in credit expansion, our share for 2000 remained at 9.3% and 10.6% respectively. During the next three years, we are anticipating to increase it to 14% in both categories.With respect to cards, the Bank has completed the series of cards offered, by issuing the Alpha Bank Mastercard credit card and the Alpha Bank Maestro debit card, thus becoming the only Greek bank to offer the complete series of Visa, American Express and Mastercard cards. A special Visa card, related to the Athens 2004 Olympic Games, will be issued next month, offering exclusive privileges and programmes for the promotion and support of the Games. In corporate banking, the co-operation with large corporations of the public and private sector was further developed. It must be noted that our Bank's participation in the drawing up and completion of the most significant syndicated loans of the Greek banking market was intense. In shipping, 2000 was the year of intrinsic establishment of the Bank in the Greek shipping community.Continuing, Mr. Costopoulos referred to all the activities of the Group's banks abroad, which expanded very satisfactorily. More specifically, it should be mentioned that, during 2000, the Italian bank Monte dei Paschi di Siena took up a 4.8% stake in Alpha Bank Romania's share capital with a view to attract Italian businesses that operate in Romania. According to the organisational restructuring of the Group, where the Bank aims at 100% ownership of companies offering financial services, the personnel and operations of Alpha Finance have been integrated into Alpha Brokerage, which in turn will be renamed to Alpha Finance. The new company, which will be an Investment Services Firm, Member of the Athens Stock Exchange, apart from offering brokerage services, also aims at offering integrated investment banking advisory services to businesses and advisory services on stock exchange transactions to institutional investors.The merger of Ionian Leasing with Alpha Leasing is already underway and is expected to be completed within the first six months of 2001, reinforcing the largest leasing company in the Greek market. Moreover, the merger of Singular with Delta Infromatics is also proceeding. Ionian Hotel Enterprises is the owner company of two of the largest hotels in Greece. In June 2000 a new ten year management agreement for the Athens Hilton was signed with Hilton International, as well as a management agreement for the hotel in Rhodes, which as of 1.4.2001 will be operating as Hilton Rhodes Resort. For the Athens Hilton, after 35 years of operation, a complete refurbishment programme is being planned, for both rooms and common areas without altering its style and aiming at repositioning it as the first hotel of Athens. The sensitivity of the Group for keeping the architectural style of past times, is continued by the restoration of the Nikoloudi Arcade, in the centre of Athens, which has already been completed, and the buildings of the Ionian Bank, in Pesmazoglou Street and of the Popular Bank, in Panepistimiou Street, as well as the renovation of the traditional building of the Ionian Bank in Corfu.With the framework of the Group's reorganisation, we established two new companies, Alpha Asset Management and Alpha Investment Services, which are responsible for attracting individuals and institutional investors and managing their savings and portfolio investments. Ionian Finance has already become a holding company which holds 78% of the shares of Alpha Finance. During the first six months of 2001, when the acquisition of Alpha Finance by Alpha Bank will be completed, those shares will be exchanged with Alpha Bank shares. The creation, in this way, of a reserve of shares of approximately 10%, aims at taking advantage of the opportunities that arise from the on-going concentration and restructuring process of the financial services sector in Greece, as well as in the European Union. ****************** Mr. Costopoulos also referred to the recent success of the Bank, regarding the undertaking of the sponsorship of the Athens 2004 Olympic Games as their Official Bank. The Athens 2004 Olympic Games is a matter concerning all of us. With our participation, apart from our financial support, which we consider as an investment and we therefore expect financial benefits, the Bank and the companies of the Group will offer know how and programmes to ensure a successful organisation of the Games. Moreover, the Bank will diversify its clientele and will further expand its market share. The return of the Olympic Games to the country were they where initially born, is a chance for all of us to contribute, according to our capabilities, to their success. Alpha Bank, its Group and its People will be present. Because the quorum of 67% was not attained at today's Ordinary General Meeting, the resolutions referring to the absorption of ?Alpha Finance? by ?Alpha Bank A.E.? were adjourned to an Extraordinary General Meeting on April 9, 2001.