RNS Number:4338P
Alpha Bank A.E.
05 September 2003



                                   INVITATION

                      TO THE EXTRAORDINARY GENERAL MEETING

                                OF SHAREHOLDERS



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 Friday September 26, 2003, at 9 a.m., at the Athens Hilton
Hotel, 46 Vassilissis Sophias Avenue, to the Extraordinary General Meeting of
Shareholders.

                                     AGENDA

 1. Approval of the draft contract and deed for the merger of "Alpha Bank A.E"
    and "Alpha Investments A.E." by absorption of the latter by the former,
    approval of the Merger Balance Sheet of "Alpha Bank A.E." accompanied by the
    relevant certificates of the Auditors, the Report of the Board of Directors,
    according to Article 69, paragraph 4 of Law 2190/1920 and granting of
    authorisation for the signing of the notarial deed and the performance of
    any other act or statement required to this purpose.
 2. Approval, according to Article 23a of Law 2190/1920, of the draft contract
    and deed for the merger of "Alpha Bank A.E." and "Alpha Investments A.E." by
    absorption of the latter by the former.
 3. Increase of the Share Capital of "Alpha Bank A.E." by the amount of the share
    capital contributed by "Alpha Investments A.E.", resulting from its
    absorption. Decrease of the Share Capital of "Alpha Bank A.E.", by the
    amount which corresponds to the par value of the shares of the Absorbed
    Company owned by the Absorbing Company, to the par value of the shares of
    the Absorbing Company owned by the Absorbed Company and to the par value of
    the shares of the Absorbed Company owned by the Absorbed Company itself.
    Increase of the Share Capital of "Alpha Bank A.E." by the capitalisation of
    reserves for the rounding off of the nominal value of each share of "Alpha
    Bank A.E. " to Euro 4,87. Amendment of Article 5 of the Articles of
    Incorporation and granting of an irrevocable order to the Board of Directors
    for the settlement of any fractional rights.
 4. Approval of all deeds, actions and statements, until today, of the Board of
    Directors of "Alpha Bank A.E." and of its representatives and proxies
    relative to the aforementioned merger.

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 Friday September 19, 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 (Mavrokordatou Square & 17, Acharnon 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, tel.: 210 326 5810) by September
19, 2003.

Due to the fact that, for some items of the agenda, 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 September 4, 2003

                             The Board of Directors


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