PIRAEUS REAL ESTATE INVESTMENT (PIRAEUS R.E.I.T. S.A.) announces that its Annual General Meeting of Shareholders, which was held on June 29, 2006, approved the dividend payment of Euro 0,137 per share for the fiscal year 2005. Eligible to receive dividends are shareholders of record on 17.8.2006. As of August 18, 2006 (ex-dividend date), the shares of PIRAEUS REAL ESTATE INVESTMENT will be traded ex-dividend. Dividend payment will take place on 28.8.2006 (dividend payment date) through Piraeus Bank. In particular, in case the Operator of the shares is Piraeus Bank, the dividend corresponding to the shares under its operation will be automatically credited to the deposit account connected with the securities custody account in Piraeus Bank. In case the Operator in the Dematerialised Securities System is another Bank or Brokerage Company, such Operator will collect for account of the shareholder the corresponding dividend. In case the shareholder has requested to be exempted from the above mentioned process (at least five business days prior to the dividend payment date) by the Operator or the Central Securities Depository, the shareholder may collect the corresponding dividend himself through the branches of Piraeus Bank, by producing his ID, Tax Record Number, and optionally a copy of his stake in the Dematerialised Securities System.