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ANNOUNCEMENT ACCORDING TO CYPRUS LAW 190(I)/2007

July 31, 2008

In accordance with the provisions of Cyprus Law L. 190(I)/2007 Bank of Cyprus announces that, for the purpose of calculating the significance of a purchase or sale of participation in Bank of Cyprus shares, the share capital of the Bank as of today, 31 July 2008, amounts to euro 573.409.701 divided into 573.409.701 ordinary shares of a nominal value of euro 1,00 each.

For further information, please contact: Mrs. Marianna Pantelidou, Investor Relations, Bank of Cyprus Group, Tel: (357) 22-881740, Fax: (357) 22-336258 or Mr. Nicolas Bornozis, President at Capital Link Inc. in New York at (212)661-7566. This and additional information can also be accessed on Capital Link's website.