Bank of Cyprus to revise targets, release 9-month results

At its monthly meeting held on 13 September 2007, the Board of Directors of the Bank of Cyprus examined the Bank of Cyprus Group financial results to 31 August 2007. Based on the financial results to date, the indications for their further development and the current conditions in the markets where the Group operates, the Group expects that its profit after tax for the nine months ending 30 September 2007 will continue to be clearly higher than that of the corresponding period of 2006, with a rate of increase at similar levels as those of the first half 2007.

Consequently, the profit after tax for the full year 2007 is expected to be clearly higher than the target of EUR415 mln, which was announced in February 2007. Revised profit targets for the year 2007 will be provided with the announcement of the results for the nine months ending 30 September 2007.

The Board of Directors will convene on Thursday 8 November 2007 to examine the Group financial results for the nine months ending 30 September 2007 and the revised profit target for the year 2007, as well as the possible payment of an interim dividend. On the same date, after the market close, the financial results will be announced to the Stock Exchange and the Press.