INFORMATION DOCUMENT for the listing of new free shares distributed to employees | Eurobank
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INFORMATION DOCUMENT for the listing of new free shares distributed to employees

INFORMATION DOCUMENT

in accordance with article 4 par.1.e and par.2.f of l.3401/2005,

for the listing of EFG Eurobank Ergasias S.A’s new shares issued by share capital increase through profits capitalization and free distribution to employees

EFG Eurobank Ergasias S.A (“Bank”), with regard to the distribution of new free shares to the Group’s employees, as approved by the General Shareholders’ Meeting of 3 April 2006, in accordance with article 4 par. 1.e and par. 2.f of l.3401/2005 informs the public about the following:

The Bank, within the framework of rewarding the efforts and the achievements of the Group’s employees, and given the Group’s continued very strong performance and expansion of its New Europe footprint in 2005, in accordance with article 16 par. 2.f of company law 2190/1920 and article 1 of presidential decree 30/1988, will distribute free shares to employees, to be issued  by capitalizing an equal amount of not distributed profits of previous financial years and a corresponding share capital increase. Due to the issue of new shares for the employees, according the above regulations, there is no question of exercising preemptive rights by other shareholders, since the law states that the shareholders may not participate in this kind of share capital increases, since the capital increase is done in favor of the personnel and under the specific terms set by this law.

More specifically, the share capital will increase by 2,161,500 euros, through the issue of 655,000 new shares of par value 3.30 euros per share, by capitalizing an equal amount of taxed profits of previous financial years, which have been transferred to statutory.

The new shares will be entitled to participate to the profits of the financial year 2006 and will be distributed free to the Group’s Directors, executive management and staff who were offering their services on 31.12.2005 The persons eligible for free shares are those who had, and are expected to continue to have, a positive contribution to the Group’s results, taking also into account the position and the functional level of responsibility of each person. The Board of Directors will allocate the above mentioned shares, within the above framework, and will be able to authorize further the Board of Directors’ Remuneration Committee.

As a result of the above mentioned share capital increase, article 5 of the Bank’s Articles of Association, where the share capital is presented, will be amended. Following the above increase, the Bank’s total paid-in share capital amounts to 1,055,922,288.30 euros divided to 319,976,451 registered shares, of nominal value 3.30 euros per share.

Responsible for this Information Document and the accuracy of its contents are Messrs:

1.               Dimitris Mitrotolis, Head of Accounting and Corporate Governance

2.               Martha Fotinopoulou, Head of Corporate Governance

The current Information Document is available at the Bank’s offices in Athens, 16 Laodokias Str., 115 28, Athens, and in the Bank’s website www.eurobank.gr.  For any further information, please contact Mrs Martha Fotinopoulou at the above mentioned Bank’s office, during working days and hours (tel.:210 7452346).