ANNOUNCEMENT REGARDING THE BANK BASE RATE

Société Générale Cyprus Ltd., taking into consideration the conditions of Cyprus and International markets announces the increase of the Base Interest Rate from 4.00% to 4.5%, valid as from 06/06/2008.

Société Générale Cyprus Ltd., taking into consideration the conditions of Cyprus and International markets announces the increase of the Base Interest Rate from 4.00% to 4.5%, valid as from 06/06/2008. This is a Variable Interest Rate, and Société Générale Cyprus Ltd. will fix it at times at its absolute discretion, according to the current financial conditions, the official interest rates at the international bond markets, and the interest rates of the Interbank market (Euribor).

The increase concerns only the debit interest rates (current accounts and loans, including housing loans), which are connected with the Base Interest Rate of Société Générale Cyprus Ltd.

From the above increase of Base Interest Rate, the following are excluded:

Loans, which have been granted prior to 01/01/2008, and they were connected, at that time, with the Base Interest Rate of Société Générale Cyprus Ltd., the Base Interest Rate of which remains at 4% (minimum bid rate on the main refinancing operations of the European Central Bank).

Lending facilities of which the Interest Rate is not connected to the Base Interest Rate of Société Générale Cyprus Ltd. such as Euribor or Libor or which bear fixed Interest Rate.

The Interest Rates of existing deposits.

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