Pursuant to the provisions of article 308 of the Stock Exchange Rules and Regulations and in reply to your letter with file number 32735/28.6.2006 with which you request that we provide you with our comments with respect to a publication of the financial Press on the potential increase of our participation in Bank of Cyprus Ltd, we would like to inform of the following:
As mentioned by Mr. Michael Colakides, in his capacity as Vice Chairman and Deputy Managing Director of the Bank, to Reuters and Bloomberg, the present strategy of the Bank, as resolved upon by the Board of Directors, provides for the gradual increase of the Bank's participation in the share capital of the Bank of Cyprus up to 9,9% thereof.