RNS Number:0246L
Alpha Bank A.E.
13 May 2003


                                   INVITATION

                  TO THE FIRST GENERAL MEETING OF SHAREHOLDERS

                         TO DECIDE UPON POSTPONED ITEMS

                       FROM THE ORDINARY GENERAL MEETING


In accordance with Law 2190/1920 "On Corporate Legislation", as amended, and
Article 12 of the Bank's Articles of Incorporation, the Shareholders of Alpha
Bank are invited, on Tuesday May 27, 2003, at 10 a.m., at the Athens Hilton
Hotel, 46 Vassilissis Sophias Avenue, to the First General Meeting of
Shareholders to discuss and decide upon the following postponed items from the
Ordinary General Meeting:

                                     AGENDA

 1. Approval of the issuance of bond loans, ordinary, exchangeable and/or
    convertible, subordinated or not.
 2. Amendment of the General Meeting resolution dated 11.4.2000, as in force, to
    extend the grant of Stock Option rights to Senior Officers of Group
    Companies.

All shareholders have the right to participate in the Annual General Meeting and
vote, in person or by proxy. Every share gives the right to one vote.

Shareholders who wish to attend the Annual General Meeting should, through their
operator in the Dematerialised Securities System (S.A.T.) bind whole or part of
the shares they possess in exchange for a share binding certificate, which they
should deposit by Wednesday May 21, 2003 in any Branch of Alpha Bank. In cases
where no operator has been appointed and the shares have been placed in the
special account, share binding certificates will be issued by the Central
Securities Depository (1 Pesmazoglou Street).

Shareholders can also deposit their share binding certificates in any bank in
Greece or the Deposit and Loans Fund and abroad in Alpha Bank Branches or in
Alpha Bank London, Alpha Bank Cyprus, Alpha Bank Romania and Alpha Bank a.d.
Skopje or any other bank and present the receipt they will be supplied with as
well as any documents of representation at the Main Branch of Alpha Bank, 40
Stadiou Street (Shareholders' Service Section) by May 21, 2003.

Due to the fact that, for the items on the agenda, an increased quorum is
required, Shareholders are requested to deposit in time, as stated above, the
share binding certificates and in the event they are unable to attend the
Meeting in person, to nominate a proxy to represent them.

                               Athens May 8, 2003

                             The Board of Directors


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