The Annual General Meeting of ASPIS BANK's Shareholders was held on Wednesday, May 3, 2006. The meeting was attended by shareholders representing 73.0365% of voting rights. During the presentation of the financial statements, Mr Constantine Karatzas, Chairman and Managing Director, underlined that profitability reached record highs in 2005, as a result of the Management's consistent adherence to its strategy, namely strengthening of the Bank's presence in the Greek Banking Sector, maintaining high revenue growth rates with simultaneous improvement in productivity and efficiency. While discussing the Bank's and its subsidiaries' activities in 2005, Mr Constantine Karatzas, pointed out that the Bank further strengthened its presence in Greece and as a result its network has reached 67 branches in 26 cities plus Attica and Thessaloniki. The network is anticipated to reach 70 branches by the end of 2006. Mr Karatzas went on to elaborate on the evolution of key financial figures of the Group of ASPIS BANK and stressed that loans, which are the driving force behind revenues, increased by 16% to 1.6 bn. He also noted that business loans increased by 22% -with overall growth for the whole banking sector of 8,7% - allowing ASPIS BANK to increase its market share in this important segment. He also stressed that the focus on core banking activities, which produce recurring income, led to the increase of operating income by 13%.

This fact in combination with the 4% reduction in operating costs, due to specific actions to improve cost efficiency and infrastructure, led profit after tax and minority interest to 11.2 million. He went on to unfold the Management's strategic objectives for 2006, which are summarized as follows:
- Emphasize high margin segments such as retail banking and SME financing.
- Exploit growth potentials in the asset management business.
- Further exploit opportunities for cross-selling through Aspis Group's insurance networks, leveraging the existing retail client base to promote banking products.
- Consistently develop new products focused on offering end-to-end banking solutions that meet the needs of the Bank's clientele.
- Secure greater market presence in all major urban centres nationwide.
- Invest in advanced technology aiming at upgrading the Bank's infrastructure.
On a final note, Mr Constantine Karatzas reassured the Shareholders that the course of development and profitability, based on the existing targets, will continue in 2006 as well. He also mentioned that the Management intends to convene an Extraordinary General Meeting to resolve on a capital increase through a rights issue. The General Meeting elected Mr Georgios E. Galanakis as a new Member of the Board of Directors.