LONDON AND ATHENS, 10 DECEMBER 2002 · ZINON Real Estate S.A., a joint venture between Deutsche Bank Real Estate, through its Real Estate Opportunities Group, and EFG Eurobank Ergasias SA, through EFG Eurobank Properties SA, has acquired a portfolio of 16 properties (the ?Portfolio?) sold on a sale and leaseback basis by Carrefour Marinopoulos SA (?Carrefour Marinopoulos?), Greece's largest supermarket and hypermarket operator.

The Portfolio consists of 16 supermarkets located around Greece and operated by Carrefour Marinopoulos. The transaction represents the first structured sale and leaseback in the Greek real estate market.

Dimitri Raptis, from Deutsche Bank Real Estate Opportunities Group said: ?We are delighted to have concluded a landmark transaction for the Greek real estate market. We are expecting that Greece, following similar trends in other European real estate markets, will witness in the next one to two years a growing number of divestments of property portfolios by public entities and corporates as they choose to focus on their core activities.?

Dr Aristotelis Karytinos, Managing Director of EFG Eurobank Properties S.A., added that this transaction, which became possible through the synergy of EFG Eurobank Ergasias Group and Deutsche Bank, reflects the progress of the Greek real estate market and the growing interest of large scale international players in it and confirms the company's position as the leading real estate company in Greece.

EFG Eurobank Ergasias Leasing SA and EFG Eurobank Ergasias SA have provided the debt facilities supporting this EUR 63m acquisition. This is the biggest financial lease transaction to have been concluded in Greece yet.