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Sale of Eurobank Tekfen

EFG Eurobank Ergasias SA (“Eurobank EFG”) today announces it has reached an agreement with Burgan Bank (“Burgan”) to sell its Turkish operations ("the Transaction").

Under the terms of the Transaction, Burgan will acquire 99.3% of Eurobank Tekfen, from Eurobank EFG and the Tekfen Group, for an upfront cash consideration of TRY641 million at 1x Book Value. The Transaction is expected to close in Q3 2012 subject to regulatory approvals by the competent authorities.

The Transaction will increase Eurobank EFG’s Core Tier I capital ratio by approximately 60 bps (or capital equivalent of almost €300 million) and will improve its liquidity position by €800 million.

Eurobank EFG acquired 70% of Eurobank Tekfen from the Tekfen Group in 2007, with an option to acquire a further 29.3% at a later date. Since 2007, Eurobank Tekfen has more than tripled the size of its loan portfolio to €1.5 billion, doubled its branch network, and increased profitability. Eurobank Tekfen, currently serves more than 85,000 customers with 60 branches and ranks among the top 20 banks in Turkey by loans.

The disposal of Eurobank Tekfen is the second organic capital enhancing action taken by Eurobank EFG in 2012, following the recently concluded liability tender offer to global and local investors, bringing the improvement of its Core Tier I year to date to the equivalent of almost €600 million.

Eurobank EFG will continue implementing its plan for the organic enhancement of its Core Tier I capital, mainly through effective management of its assets and liabilities as well as the reduction of operating expenses, with the aim of maximizing the role and participation of the private sector in the upcoming recapitalization of the Greek banking system.

Barclays and Goldman Sachs International acted as Financial Advisers to Eurobank EFG in the Transaction.