Bank of Cyprus Public Company Ltd : Resignation of Board Member

Announcement

Resignation of Board Member

Nicosia, 3 January 2012

Bank of Cyprus Public Company Ltd ("the Bank") announces that Mr Andreas Jacovides has  submitted his resignation from his position as a member of the Board of Directors of the Bank from 1  January 2012. Mr Jacovides, has reached 75 years of age and, according to the Articles of Association of Bank of Cyprus, must retire from the Board of Directors by the next Annual General Meeting of the Bank.

The Board of Directors has accepted Mr Jacovides' resignation and expresses its warmest thanks for his valuable contribution to the Group which he has served as a board member since 2003.

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 Group's activities include finance, factoring, investment banking, brokerage, fund management, life and general insurance. The Group currently operates through a total of 609 branches, of which 209 operate in Russia, 185 in Greece, 141 in Cyprus, 44 in Ukraine, 12 in Romania, 13 in Australia, 4 in the United Kingdom and 1 in the Channel Islands. Bank of Cyprus also has 9 representative offices in Russia, Romania, Ukraine, Serbia, Canada and South Africa. The Bank of Cyprus Group employs 11.551 staff worldwide.

At 30 September 2011, the Group's Total Assets amounted to €39,57 bn and the Shareholders' Funds were €2,99 bn. The Bank of Cyprus shares are listed on the Cyprus and Athens Stock Exchanges. Additional information can be found on the Group's website www.bankofcyprus.com.