RNS Number:7699P
Alpha Bank A.E.
15 September 2003

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

Alpha Bank and EFG Eurobank Ergasias, two of the largest card issuers and
acquirers in the Greek market, announce the signing of a cooperation
preagreement leading to the establishment of a big modern integrated network of
POS terminals.

The new single network will support transactions with VISA, MASTERCARD, AMERICAN
EXPRESS and EUROLINE cards, have country-wide coverage and incorporate
up-to-date technological standards.

The new network will eliminate operational duplication and permit the extension
of acquiring services to a wider number of merchants using an electronic
platform of superior speed and security.

The new integrated network will:

  * improve acquiring services to the benefit of both merchants and card
    holders, and

  * result in cost savings from the introduction of technologically advanced
    security and support functions as well as from the consolidation of
    transaction processing costs.


    For more information:



    ALPHA BANK

    Bank and Credit Cards Division

    Tel. : 210 326 3004

    EFG EUROBANK ERGASIAS

    Eurobank Cards

    Tel. : 210 928 9175

    Athens, September 15, 2003



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