RNS Number:5416L
Alpha Bank A.E.
27 May 2003


                            P R E S S   R E L E A S E



                     FIRST GENERAL MEETING OF SHAREHOLDERS

                         TO DECIDE UPON POSTPONED ITEMS

                       FROM THE ORDINARY GENERAL MEETING

                                  MAY 27, 2003


The First General Meeting of shareholders to decide upon postponed items from
the Ordinary General Meeting approved the issuance of bond loan or loans by the
bank, ordinary, exchangeable and/or convertible, subordinated or not in Euro or
exchange, in Greece or abroad.

The duration of the loan or loans will be of limited or unlimited time and will
amount up to Euro 8 billion or the equivalent sum in foreign currency.

The Board of Directors has been granted a five-year authorisation to implement
the above decision and sign the relevant agreements for the issuance of the said
loans.

Furthermore, the General Meeting approved the extension of the Stock Options
rights to Senior Officers of Group Companies, without any further amendment to
the programme approved by the General Meeting of April 11, 2000.

Finally, the Chairman and Managing Director of Alpha Bank, Mr. Yannis S.
Costopoulos announced that an Extraordinary General Meeting will be convened
soon, in order to approve the "Staff Rules and Regulations" of Alpha Bank, after
the unification of the respective "Staff Rules and Regulations" of Ionian Bank
and Alpha Credit Bank. The conclusion of this procedure, completes the merger
in a very brief period of time.


                                                            Athens, May 27, 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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