The Board of Directors of Emporiki Bank of Greece S.A. announces as follows: On 22 June 2006 there was announced the submission of a competitive public tender offer, in accordance with Law 3401/2006, by the Cyprus Bank "BANK OF CYPRUS PUBLIC COMPANY LTD" for the purchase, for cash and shares offer, of the totality of the common registered shares issued by Emporiki Bank. The Board of Directors will draw up and make public its reasoned opinion regarding this offer, taking into account the interests of Emporiki Bank, of the totality of its shareholders and of its employees, acting within the time limits set by Law.