Capital Link Cyprus | BANK OF CYPRUS PUBLIC COMPANY LTD |

BANK OF CYPRUS PUBLIC COMPANY LTD INCREASES ITS SHAREHOLDING IN CYTRUSTEES INVESTMENT PUBLIC COMPANY LTD

February 9, 2007 Bank of Cyprus Public Company Limited ("Bank of Cyprus") announces that on 8 February 2007, through transactions on the Cyprus Stock Exchange it has acquired 3.658.315 shares in Cytrustees Investment Public Company Limited ("Cytrustees"), which represents 15,17% of Cytrustees' issued share capital.

Before these transactions Bank of Cyprus held 661.119 (2,74%) in Cytrustees. After the abovementioned transactions, Bank of Cyprus' direct shareholding in Cytrustees is estimated at 17,91%.

This announcement is made pursuant to article 171 of the Cyprus Stock Exchange Law of 2005.

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.