The Greek Postal Savings Bank (PSB) notifies the investment public, its shareholders, and other interested parties, that Mr. Panos Tsoupidis, after serving successfully as President of the PSB for the past three and a half years, announced today at the meeting of the Board of Directors his decision to step down, and submitted his resignation.

The Board of Directors accepted his resignation, while it expressed its gratitude to Mr. Tsoupidis himself for his substantial contribution to PSB's management, as well as for the significant work he has accomplished.

Following his resignation, the Board of Directors has elected, in replacement of the resigned President, the economist Mr. Angelos Filippidis, who will assume duty as the Chairman of PSB's Board of Directors.

Mr. Filippidis has studied political and economic science in New York. He has had his post-graduate studies in Business Administration and International Affairs (with an emphasis on International Banking and Finance Systems) at the Columbia University, where he received a Master's degree in International Affairs and a Master's degree in Business Administration. He has served as a General Manager for "Emporiki Securities S.A." (1991-1993) and as Chief Executive Officer and General Manager for "Emporiki Capital Group" (1993-1994). Subsequently, he served as General Manager for "Intersec S.A." (1994) and as President and Chief Executive Officer for the "International Advisory Group" (1994-1999), advising companies on matters concerning strategic decisions and European programs. During the period 2000-2003 he served as President of Panathinaikos FC, while since 2003 until today he has been engaged in business activities in finance and banking sectors in Greece, as well as in other Balkan countries.