Bank of Cyprus declares EUR 0.17 dividend

The Board of Directors of the Bank decided to propose at the Shareholders’ Annual General Meeting to be held on Wednesday, 6 June 2007, the distribution of a dividend of CYP0,10 per share EUR0,17  per share.

The recommended ex-dividend date is Monday, 11 June 2007. Transactions that take place up until Thursday, 1 June 2007, will be eligible to receive the dividend for 2006. The dividend, subject to the approval of the Annual General Meeting, will be paid to the eligible shareholders on Tuesday, 26 June 2007.

Investors are reminded that the Bank of Cyprus Dividend Reinvestment Plan is in force. The applicable discount offered under the Plan is 10%. Based on the 10% discount offered, dividends will be reinvested at 90% of the weighted average closing price of the share at the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX) for the first five working days that the share is quoted ex-dividend.

Once an investor enrols in the Plan, his participation remains in force for all future dividends which will be automatically reinvested on his behalf, unless he requests in writing to withdraw from the Plan or unless the Bank suspends or terminates the Plan.

Investors are reminded that, for their instructions to be valid for the proposed dividend and for all future dividends, the Company must receive their Application Form at least 10 days prior to the ex-dividend date, i.e. by 1 June 2007. If their Application Form is not timely received, their instructions will only be effective for future dividend payments.

The Shareholders’ Annual General Meeting will take place on Wednesday, 6 June 2007 at 4.30pm at the Group Headquarters in Nicosia.