Approval of the draft merger agreement

The Board of Directors of Hellenic Postbank S.A. (onwards "Hellenic Postbank") and T Bank S.A. (onwards "T Bank") announce that at their respective meetings held on July 7th, 2011 they approved the draft merger agreement for the absorption of T Bank by Hellenic Postbank. The reference date of their merger balance sheets is set as March, 31st 2011. The proposed exchange ratio is fifty (50) existing T Bank shares for one (1) newly issued Hellenic Postbank share. The number of shares held by the existing shareholders of Hellenic Postbank will remain unchanged.

The completion of the abovementioned merger is subject to approval of the draft merger agreement by the respective General Meetings of the merging companies and the grant of permissions and approvals of the relevant authorities.