National Bank of Greece announced that on 9 May 2003 the Ordinary General Meeting of its Shareholders decided on the issue of 23,187,099 new common registered shares, of a nominal value of euro 4.50 each, to be distributed as bonus shares to the Bank's shareholders in proportion of 1 new for 10 old shares. The new shares resulted from capitalization of reserves of euro 104,341,945.50.

The Bank's share capital increase and the resulting issue of the new bo-nus shares were ratified by the Ministry of Development, by virtue of De-cision under Prot No K2 5653/23.5.2003.

Beneficiaries of the bonus shares are the Bank's shareholders as at the closing of the Athens Stock Exchange session of 30 May 2003. The new shares shall be traded on the Athens Stock Exchange as of Monday, 2 June 2003, without right to bonus shares.

The new shares shall be released to the beneficiary shareholders in de-materialized form, and credited to their accounts via the Central Securi-ties Depository S.A. within the time limits prescribed by law, following the Bank's relevant announcement.