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OWN STOCK BUY-BACK PROGRAMME

May 21, 2008

National Bank of Greece S.A. announces the following: NBG?s own stock buy-back programme (as per Article 16, par. 5 et seq. of the Companies Act) was approved by AGM resolution of 17 April 2008, affording NBG the option to purchase own shares up to 10% of its total shares at a minimum purchase price of euro5 and a maximum purchase price of euro60 per share from 25 May 2008 until 24 May 2009.

From 25 May 2008 until 25 September 2008 NBG intends to purchase up to 20,000,000 own shares at a minimum price of ?5 and maximum price of euro60 per share by BoD resolution of 15 May 2008 pursuant to the AGM resolution.

Investors are reminded that the implementation of own stock buy-back programmes is optional by law

For further information, please contact: Mr. Paul Mylonas, Chief Economist of the Group & Director of Research at National Bank of Greece at (3010) 334-1522, e-mail: pmylonas@nbg.gr or Mr. Panayiotis Karandreas, Investor Relations Department, at (3010) 334-1620, e-mail: karanp@nbg.gr

Distributed by Capital Link Inc. in New York at (212) 661-7566. (Nicolas Bornozis / Pamela O'Brien) This information can be also accessed on National Bank of Greece's website at www.ethiniki.gr or on Capital Link's website www.capitallink.com with historical company news.