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LONE PINE CAPITAL LLC'S SHAREHOLDING IN BANK OF CYPRUS INCREASED ABOVE THE 5% THRESHOLD ON 3 MARCH 2008

March 6, 2008

In accordance with Greek Law Ν. 3556/2007, Decision 1/434/3.7.2007, Circular 33 of the Hellenic Capital Markets Commission and the Cyprus Law 190 (I)/2007, Bank of Cyprus announces that it has been notified by Lone Pine Capital LLC that on Monday, 3 March 2008, the shareholding in Bank of Cyprus share capital of investment funds for which the latter acts as the investment manager exceeded 5%. Specifically, on 3 March 2008, these investment funds held in total 28.696.054 Bank of Cyprus shares, which correspond to a shareholding of 5,068%.

Lone Pine Capital LLC is the investment manager of the fund and is entitled to exercise the voting rights attached to the 28.696.054 Bank of Cyprus shares.

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.