NATIONAL BANK OF GREECE S.A.

Trading of Shares

April 7, 2006 The company NATIONAL BANK OF GREECE S.A. announces that, as from Monday, April 10, 2006, its 2,670,367 new common registered shares will be introduced for trading on the Athens Exchange (ATHEX). It is noted that the new shares resulted from the share capital increase of the company carried out due to the merger by acquisition of the company “ETHNIKI REAL ESTATE DEVELOPMENT& OPERATION OF GENERAL WAREHOUSES S.A.”. The new shares that resulted from the above merger will have been credited by the Central Securities Depository, according to the agreed shares' exchange ratio, to the beneficiaries' accounts that are observed in the Dematerialized Securities System (DSS) of the CSD prior to the start of trading of new shares on April 10, 2006. On the same date, the opening price of NBG’s shares on the ATHEX will be determined in accordance with the provisions of the ATHEX BoD Decision no.37/08.07.2004 and the relevant HCMC decision no.18/291/22.01.2004, as it has been modified and currently in force. The shares’ exchange ratio for shareholders of the merged companies is as follows: a) each shareholder of "ETHNIKI REAL ESTATE DEVELOPMENT & OPERATION OF GENERAL WAREHOUSES S.A.” will exchange 15 common registered shares held for 2 new common registered shares of National Bank of Greece S.A., of nominal value of EUR 5.00 each b) the shareholders of the absorbing company "NATIONAL BANK OF GREECE S.A." will sustain their existing number of shares (336,599,045 common registered shares) with a new par value of EUR 5.00 per share. Provided that during the shares’ exchange fractional rights occur, shareholders are given a six-month deadline from the time of listing of the new shares to either distribute them or acquire the remaining fractional rights. In case of no action by shareholders during the aforesaid deadline, the said fractional rights will be sold by National Bank of Greece, via a transaction on the ATHEX, while the amount of the sale will be given to beneficiary shareholders. After the merger, which the Ministry of Development approved by its relevant decision on 31.3.2006, the share capital of NBG amounts henceforth to EUR 1,696,347,060.00 and is divided into 339,269,412 common registered shares of nominal value of EUR 5.00 each. Also, a copy of the Prospectus that was issued for the said merger may be obtained from the offices of NBG (93, Aeolou Str., Athens, Greece) or the web site of the ATHEX (www.ase.gr). For further information, Messrs. Shareholders may contact-during business days and hours- the company's Shareholders' Service Department at +30 210-3343411, contact person: Mr. Michael Froussios).