C Y P R U S P O P U L A R B A N K P U B L I C C O L T D A N N O U N C E M E N T

Following recent press articles and a request by the Cyprus Stock Exchange, Cyprus Popular Bank Public Co Ltd (the "Bank") hereby clarifies that a Voluntary Resignation Plan has been announced for employees of the Bank in Greece, in the context of the actions necessary under the Restructuring Plan and reorganization of its operations.
The Bank has not taken any decision on a new voluntary resignation plan for employees based in Cyprus. Should the Bank proceed with such a plan, this will be under the provision of the labour legislation and following consultation with ETYK.
Since the start of the year, the Bank has proceeded with the reorganization of its branch network, which has resulted in the reduction of its branches in Cyprus and Greece by 23 and 41 respectively, as compared to the previous year. Today the Bank maintains 93 branches in Cyprus and 131 branches in Greece.
The Bank remains committed to the implementation of the provisions of the Ministerial Decree and the Restructuring Plan, which is under consultation with the Ministry of Finance and the Central Bank of Cyprus, and which provides for further restructuring of its branch network and further cost containment.
Nicosia, 28 December 2012

CYPRUS POPULAR BANK PUBLIC CO LTD

Registration No. 1, 154 Limassol Ave., 2025 Nicosia, P.O. Box 22032, 1598 Nicosia, Cyprus www.laiki.com

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