Alpha Bank makes reference to the resolution of its Annual Meeting of Shareholders of 19.4.2005, to repurchase own shares, in accordance with art.16, par.5 of corporate law 2190/1920. According to the aforementioned resolution, Alpha Bank may proceed, until 19.4.2006, to the repurchase of up to 3% of its total outstanding paid-in share capital, at the lower limit share purchase price of Euro 5.00 and upper limit share purchase price, Euro 31.20, adjusted to Euro 26.00, following the issue of bonus shares as decided by the Annual Meeting of Shareholders of 19.4.2005.

The Board of Directors of Alpha Bank, at its meeting on 26.4.2005, decided, pursuant to the above, that the Bank, throughout the period 9.5.2005 to 9.11.2005, repurchase 3,000,000 own shares at the lower limit share purchase price of Euro 5.00 and upper limit share purchase price, Euro 31.20. Following the issue of bonus shares as decided by the Annual Meeting of Shareholders of 19.4.2005, the relevant number of shares and the upper limit share purchase price will be adjusted to 3,600,000 and Euro 26.00 respectively.