BOC reinvestment dividend shares trade

As a result of the reinvestment of dividends paid on 27 June 2006, 3.391.194 new ordinary shares of a nominal value of CYP 0,50 each were issued by Bank of Cyprus Public Company Ltd.

The shares were issued to the shareholders who participated in the Bank’s Dividend Reinvestment Plan at a discount of 10% to the weighted average closing price of the share on the Cyprus Stock Exchange and the Athens Exchange during the first five days after the relevant ex-dividend date. The price at which the shares were issued is CYP 3,49 (€6,05) per share.

Following the above issue, the Bank’s issued share capital comprises 549.534.327 ordinary shares, of a nominal value of CYP 0,50 each.

On Tuesday, 8 August 2006, the 3.391.194 new ordinary shares of the Bank will be introduced for trading on the Cyprus Stock Exchange and the Athens Exchange.

As of 8 August 2006, the opening price of the Bank’s shares on the Athens Exchange will be adjusted according to the Regulation of the Athens Exchange. As of the same date, the new shares will be credited in the Dematerialised Securities System (“DSS”) accounts of the beneficiaries who have elected to have their shares registered on the DSS.