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EFG EurobankErgasias S.A. (Eurobank EFG), 28.4% shareholder (directly and indirectly) of LOGIC DATA INFORMATION SYSTEMS S.A. (LogicDIS) agreed today to transfer its participation to GreekInformationTechnologyHoldings S.A. (GIT Holdings). GIT Holdings is 100% shareholder of “SINGULAR SOFTWARE S.A.” and “SINGULAR INTEGRATOR S.A.” as well as other companies.

In addition, Eurobank EFG willtransferthe convertible bond issued byLogicDIS toacompanyindicatedbyGITHoldings. Conversion of this bond would increase GITHoldingsparticipation in LogicDISto 42.7%.

Total consideration for the transaction was agreed at €23.9 million. (€10 million for the transfer of shares and €13.9 million for the transfer of the Bond).  Total consideration may be reduced by up to €2 million, depending on the final assessment of the auditors regarding LogicDIS net asset value, following the publication of the company’s financial statements for 2005.

LogicDISisacompanywithalongtrackrecordandaleadingpositionintheGreekITservicesandITsolutionsmarket. Through this transaction, a shareholder with high capital adequacy and with additional experience and know-how will join LogicDIS, in order to secure the leading position in the field.

Moreover, theexistingsuccessfulcooperationbetweenLogicDISandEurobank EFG willbe further enhanced, sinceEurobank EFG signeda€25 million, 5-yearcooperationagreementwith GIT Holdings group of companies, fortheprovisionof proprietary and third party software, consulting services, software development and maintenance services, hardware, and IT technical support.

KANTORCAPITAL was the advisor on behalf of the seller and INVESTMENT BANK OF GREECE was the advisor on behalf of the buyer.