BOC new shares

Bank of Cyprus Public Company Ltd has introduced 406.147 new ordinary shares on the Cyprus Stock Exchange and the Athens Exchange resulting from the recent increase in the share capital by CYP 203.073,50 (€352.130). The new shares to be introduced have resulted from the exercise of 406.147 Share Options on 30 September 2006 by 608 beneficiaries (staff of the Bank of Cyprus Group) at the exercise price of CYP 3,26 (€5,67) per new share, according to the 19 April 2000 resolution of the Bank’s Extraordinary General Meeting and the 19 January 2001 resolution of the Bank’s Board of Directors.

After the above increase, the Bank’s share capital amounts to CYP274.970.237,00 divided into 549.940.474 ordinary shares, of a nominal value of CYP0,50 (€0,8423) each.

The listing of the new shares has been approved by the Boards of Directors of the Cyprus Stock Exchange and the Athens Exchange at their meeting on 12 October 2006 and 19 October 2006 respectively.

As of 24 October 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 accounts of the beneficiaries who have elected to have their shares registered on the DSS.