MERGER ANNOUNCEMENT | Eurobank
Choose Language Top Menu Main Menu Extra Button Menu Page Contents Footer Search

MERGER ANNOUNCEMENT

EFG Eurobank Ergasias announces the following:

Following the registration in the Societes Anonymes Registry of the Ministry of Development of the decision number Κ2-15002/25-11-2005 of the Minister of Development, the following actions were completed on Friday, November 25th, 2005:

a)       The merger by absorption of the closed-end fund GREEK PROGRESS FUND S.A. by ΕFG Eurobank Ergasias S.A.,

b)       The increase of the share capital, as a result of the merger, with new shares issue and modification of the nominal value of the share from 2.95 euros to 3.26 euros, and relevant amendment of article 5 of the Articles of Association,

c)       The increase of the share capital by increasingthenominalvalueofthesharefrom 3.26 euros to 3.30 euros, via capitalization of the special fixed assets revaluation reserve, in accordance with law 2065/1992, and relevant amendment of article 5 of the Articles of Association

Thus, following the above, the Bank’s share capital amounts to 1,053,604,556.40 euros and is divided in 319,274,108 shares, of a nominal share value of 3.30 euros each.

As a result of the above:

a)      the shares of GREEK PROGRESS FUND S.A., cease trading at the Athens Stock Exchange as of November 28th, 2005,

b)      The registered shareholders of the above two companies on November 25th 2005 are entitled       to the new shares that will be issued due to the merger according to the agreed exchange ratio.   More specifically:

·       Each shareholder of GREEK PROGRESS FUND S.A. will exchange 7.9 common to 1 new share of ΕFG Eurobank Ergasias S.A., with a nominal share value of 3.30 euros.

·       The shareholders of EFG Eurobank Ergasias S.A. will retain the number of the shares they already own, but with the adjusted nominal value of 3.30 euros per share.

The date when the accounts of the old shareholders of GREEK PROGRESS FUND S.A. will be credited with the new shares of EFG Eurobank Ergasias S.A., which will be issued as a result of the merger, the date that these shares will commence trading, and the date that the Bank’s shares will commence trading with the new nominal value will be announced through the Press. The date and the other details concerning the payment to the entitled shareholders of the product arising from the clearance of the fractional rights will also be announced through the Press.

For more details, Shareholders can address the Shareholders’ Department of EFG Eurobank Ergasias S.A., 5 Santaroza Str., tel. +30 (210) 3357158 & 3357159 during working days and hours.

Athens, November 25th 2005

EFG Eurobank Ergasias S.A.