Capital Link Cyprus | BANK OF CYPRUS PUBLIC COMPANY LTD |

ANNOUNCEMENT ACCORDING TO CYPRUS LAW 190 (Ι)/2007

September 16, 2008

In accordance with Cyprus Law 190(I)/2007, Bank of Cyprus announces that it has been notified by Morgan Stanley that on Wednesday 10 September 2008 Morgan Stanley & Co International Ltd and Morgan Stanley & Co Incorporated New York decreased their participation in Bank of Cyprus shares by 0,364%. Following the above mentioned decrease, on 10 September 2008, Morgan Stanley & Co International Ltd and Morgan Stanley & Co Incorporated New York held in total 26.819.348 Bank of Cyprus shares, decreasing their shareholding from 5,041% to 4,677%.

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.