In accordance with article 16 para. 13 of codified law 2190/1920 and article 291 of the Athens Stock Exchange Rules, the Board of Directors of Piraeus Bank announces that on 29.11.2006 it resolved on the sale by way of private placement to greek and foreign investors of up to ten million (10,000,000) treasury shares during the period from 30.11.2006 to 31.12.2006; the minimum selling price was set at Euro 21.00 per share.