FINANCIAL HIGHLIGHTS

BY DECEMBER 31, 2004


BRANCHES 136
NUMBER OF EMPLOYEES 1237
TOTAL ASSETS € 10.586.345.965,18
TOTAL DEPOSITS € 9.275.032.457,74
DEPOSITS/ASSETS 87,6%
LOANS € 2.146.636.767,50
CAPITAL + RESERVES € 1.038.410.174,80
NET PROFIT BEFORE TAXES € 180.645.820,41

BRIEF OUTLINE
Greek Postal Savings Bank (G.P.S.B.), has followed, as it is widely known, a very successful course for over a hundred years and has contributed a lot to the economic and social development of modern Greece. The Postal Savings bank operated for the first time on the 1st of April 1902 in the Cretan State. Its services were provided in its customers through 26 Postal Offices. On the 1st of May 1915 the Postal Savings bank opened its doors in Athens carrying its fund and rests from Crete. It was operating through 45 Postal Offices and some years later in 1934 through 600 Postal offices, a network of branches that no other bank could even imagine at that time. In 1926 the Postal Savings bank began to issue loans initially in Legal Persons of Public Right to follow the loans with beneficial terms to its employees and general to Civil servants. In 1970 the Postal Service became autonomous with the foundation of the "HELLENIC POST" Organization. At the same time the Postal Savings bank was developing its own network, which by the end of 1980, reached the 100 branches. At the end of 2002, law 3082/2002 was issued by the Greek Parliament that provides the institutional change of G.P.S.B. into a credit institution operating under the legal form of a Societe Anonyme.

NEW ERA
"Greek Postal Savings Bank" S.A. faces the greatest challenge of its existence; outshining the competition "on all fronts" in its way to modernisation. In 2004 the new Management undertakes its duties and places as its primary target the materializing of a general restructuring program of the Greek Postal Savings Bank, with a series of organic changes in statutory, but also in operational level, in order to succeed its transformation into a modern banking institution with emphasis in retail banking (today it possesses the 8% of the banking market), under the monitoring of Central Bank of Greece. The new strategy aims at making the Greek Postal Savings Bank a really "popular bank", ready to equivalently compete with the others, that will serve all financial customer needs with modern but simple products, on the most favorable terms of the market. To this direction, the full development of an integrated information technology system, which is about to be completed, will offer a thorough technical infrastructure to existing or to planned projects, procedures and activities and will increase the efficiency of all the operational activities. Meanwhile, according to the agreement with the Hellenic Post, the cooperation between the two Organizations is expected to strengthen. The agreement provides new ways of development of postal network, the upgrading and the expansion of the offered services and the presence of a financial customer-adviser in the majority of the network's units. Moreover it provides the establishment and operation of financial companies that belong jointly to both Organizations. GREEK POSTAL SAVINGS BANK is about to proceed with the Athens Stock Exchange Market listing, offering 20-30% of the share capital during the first half of 2006.The Bank will be targeting Greek and foreign investors and in accordance with the stock exchange regulations for the dispersion of shares, there will be no strategic investor-shareholder.

NETWORK
Through a network of 136 branches and 850 Postal Offices, that approaches the most removed regions of the country, while also improving its infrastructure with new technologies ATM's, GPSB remains consistently closed to its customers and offers modern banking products and services, with the known friendly and personal service, but with an outlook and an operational flow which meet with the new organizational competitive standards. PRODUCTS There have been created and launched into the market new types of housing products and there has been expanded the beneficiary cycle of housing loans that up to now were addressed exclusively in Civil servants. As a result of this effort was the increase of new housing loans to the amount of €151 mill versus € 23 mill of the previous year. At the same time, the Greek Postal Savings Bank began the circulation of Debit cards (T.T. VISA ELECTRON) and intensified the disposal of credit cards (T.T. Visa) with favourable terms (interest-rate 9%) and with great effect in the consuming public, reaching in 2004 the 24.310 credit and the 32.196 Debit cards. Also it has initiated in December 2004 the granting of personal and consumer loans, as well as pre-approved personal loans to Public sector employees, obviously with great success, since despite the short period of their disposal, they amounted till the end of 2004, to € 12,46 million.