YEAR 2000 FINANCIAL RESULTS

§Core Operating Profit at GRD 115bn, from GRD 108 bn in 1999, up 7% §Dividend per share of GRD 180, from Grd 154, up 17% EFG Eurobank Ergasias posted consolidated Earnings before Tax and minorities of GRD 131 bn in 2000, compared to GRD 173 bn in 1999. The 24% drop was due to the non-recurrence of the one-off trading and extraordinary gains of 1999. However the Group's organic growth in core operating profitability continued in 2000, with core operating profit excluding trading gains rising 7% to GRD 115 bn from GRD 108 bn in 1999.The group's high core profitability allows the Board of Directors to propose to the General Assembly of shareholders the distribution of a dividend of GRD 180 per share, up 17% compared to 1999 (when an aggregate per share dividend of GRD 154 was distributed by the former Eurobank and Ergobank, adjusted for the 3·for-10 bonus issue) resulting to a dividend yield of 2.6%. The capital adequacy ratio for the group remains high, at 17%.The published balance sheet shows a significantly improved quality of earnings, with organic sources of income contributing 82% of Total Operating Income, compared to 78% in 1999. This improvement mainly reflects the significant market share gains achieved in strategic market segments of high growth and profitability. Pre tax Return on Assets (ROA) for the Group was at 2.5%. Pre tax Return on Equity (ROE) for the Group was 20%.More specifically: §Group organic Revenues excluding trading gains reached GRD 332 bn up 18% §Net Interest Income for the Group exhibited strong growth of 29% and reached GRD 188 bn, reflecting the high loan growth of 34% and the achievement of a net interest margin of over 3%. Net Commission Income stood at GRD 94 bn, posting an 8% decline, due to the exceptionally negative stock market conditions. Nevertheless, Commission Income contributed 27% to Total Operating Income. §The cost to income ratio stood at 54%, a satisfactory level in international comparison, especially when taking into account the quality and sustainability of income. It should be noted that the consolidation of CretaBank as of 30.6.1999 was only partially reflected in terms of cost in the fiscal year 1999, and this fact inflates the increase in cost for 2000. Taking this fact into account operating cost has increased by 17%. The increase in operating expenses in 2000 reflects the Group's expansion into new activities and the investments in new distribution channels. From 2001 onwards the conclusion of the merger of the former Eurobank and Ergobank will lead to cost containment and a material improvement in cost efficiency ratios. §Core Operating Profit of the Group presented an increase of 7% amounting to GRD 115bn. §Group Earnings before Tax reached GRD 131 bn compared to GRD 173 bn in 1999, due to the non-recurrence of one-off financial and extraordinary gains of 1999 §Total Group Assets amounted to GRD 5,689 bn, an increase of 13%, which is mainly attributable to the significant 34% increase in loans to GRD 2,773 bn, which reflect the Group's continuous dynamic organic growth and constant market share gains in all activity segments. Total deposits amounted to GRD 4,280 bn at the end of 2000, recording an increase of 11%. §Group Shareholders Funds amounted to GRD 693 bn, while excluding minority interests they stood at GRD 606 bn, one of the stronger capital positions in the Greek market. §Total dividends of GRD 53 bn will be distributed for 2000 corresponding to GRD 180 per share, 17% higher compared to the combined total dividends of former Eurobank and Ergobank for fiscal year 1999. §The capital adequacy remains high, in excess of 17%.Significant market share gains In 2000, EFG Eurobank Ergasias exhibited high rates of activity growth and significant market share gains, especially in segments of strategic importance. Thus: §In Lending the market share is estimated to have exceeded 11.5% from 10.5% on 31/12/1999. §In Mutual Funds the market share reached 18%, from 14% in 1999. Especially in mutual funds investing abroad, market share came to 40%. §In Consumer lending the market share is estimated to have reached 26% from 23% on 31/12/1999. §In Mortgage lending the market share is estimated to have reached 17% from 13,7% on 31/12/1999. §In IPO Underwriting for ASE listings the market share exceeded 19%, from 13% at the end of 1999. §In stock exchange transactions the market share came close to 6% from 4% at the end of 1999.The improvement in the quality of earnings in the year 2000 and the strengthening of market shares in the most rapidly developing and profitable market segments forms a basis for further improvement in Return on Assets and Return on Equity of the Group, while the cost and revenue synergies from the merger will become visible from the second half of 2001.

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