"In replying to your letter dated 30/12/2005 we comment on the publication of POLITIS Newspaper and other subsequent relevant publications of the Greek Press as follows:

Investment Bank of Greece, subsidiary of Marfin Financial Group, was carrying discussions with the Management of LAIKI BANK CYPRUS regarding the provision of Investment Banking Services. As a result, Investment Bank of Greece has today signed an agreement, pursuant to which it will offer to LAIKI BANK CYPRUS advisory and underwriting services regarding its share capital increase (61,3m Cypriot pounds) under process.

A part from ongoing efforts to provide additional Investment Banking Services, any other involvement of Marfin Financial Group in the Cypriot Banking Market contemplated by the press is not accurate."