The presentation of Piraeus Bank Group at the Institutional Investors Union was carried out today, in the context of the presentation programme organized by the Union. Mr. Michalis Colakides, Vice-Chairman and Deputy Managing Director of Piraeus Bank, was in charge of the presentation. Mr. Colakides first mentioned the very good results of 2005, with increased profitability by 107% at Euro 264 mn, which is the Group?s historically highest performance. In particular, Mr. Colakides stressed that the Group's loan portfolio increased by 31%, customer deposits by 20%, and return on equity reached 21% against 14.9% in 2004. Furthermore, there was an increase of market shares in the domestic market in mortgage, consumer and corporate loans and deposits, while the branch network in Greece expanded with 24 new braches, reaching 273 at year-end. At international level, in 2005, Piraeus Group made a series of important moves for expansion and enhancement of its presence through the acquisition of Eurobank AD in Bulgaria, Atlas Bank AD in Serbia, and Egyptian Commercial Bank in Egypt. Thus, the Group's branch network abroad rose to 176 from 60 branches in 2004, and human resources numbered 2,633 people. Mr. Colakides pointed out that, having laid the foundations for a strong development both in Greece and abroad, Piraeus Group has set new ambitious goals for the three-year period 2006-2008. In particular, financial targets include average annual increase in net profit by at least 25%, return on equity over 24% in 2008, and decrease of "cost-to-income" efficiency ratio below 50%. In conclusion, the Vice-Chairman of Piraeus Bank expressed his optimism, both for the Greek banking system, and for the prospects of the wider geographical region of South-eastern Europe and Eastern Mediterranean, which will significantly contribute to the attainment of the goals of Piraeus Bank Group.