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GD         Turnover  mln.
ANNOUNCEMENTS

Bank Of Cyprus: Information Regarding The Conversion

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The holders of the Bank of Cyprus Convertible Bonds 2013/2018 which are traded on the Cyprus Stock Exchange and the Athens Exchange with codes BCCB/ and BOCB1/1 respectively (the "Convertible Bonds") are informed that the period between 15 to 30 September 2010 is the First Period they may elect to convert their Convertible Bonds into Bank of Cyprus Public Company Ltd (the "Bank") shares (the "shares") at the current Conversion Price of €10,50 per Share. 

Information regarding the conversion procedure as well as the application for conversion of the Convertible Bonds 2013/2018 are available on the Groups website www.bankofcyprus.com (Inv. Relations/Shareholder Structure and Share/ Convertible Bonds). 

It is also reminded that the conversion price of the Convertible Bonds will be amended pursuant to their terms as the upcoming rights issue that was announced on 8 July 2010 is not extended to these stakeholders. The new amended conversion price for the Convertible Bonds will be announced by the Bank after the Banks shares trade as ex-rights on the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX).
Founded in 1899, the Bank of Cyprus Group is the leading Cypriot banking and financial services group. In addition to retail and commercial banking, the Groups activities include finance, factoring, investment banking, brokerage, fund management, life and general insurance. The Group currently operates through a total of 566 branches, of which 211 operate in Russia, 167 in Greece, 143 in Cyprus, 18 in Ukraine, 12 in Romania, 10 in Australia 4 in the United Kingdom and 1 in the Channel Islands. Bank of Cyprus also has 8 representative offices in Russia, Romania, Ukraine, Canada and South Africa. The Bank of Cyprus Group employs 12.127 staff worldwide. 

At 31 March 2010, the Groups Total Assets amounted to €39,73 bn and the Shareholders Funds were €2,49 bn. The Bank of Cyprus shares are listed on the Cyprus and Athens Stock Exchanges. Additional information can be found on the Groups website www.bankofcyprus.com

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