TTTTHHHHEEEE FFFFIIIINNNNAAAANNNNCCCCIIIIAAAALLLL MMMMIIIIRRRRRRRROOOORRRR TTTTHHHHIIIISSSS WWWWEEEEEEEEKKKK

foothold in Bank of Cyprus, the best way would be to bid for the 8.15% stake offered for sale by Piraeus Bank.

CySEC vs Marfin:

The Securities and Exchange Commission has ruled that the public offer document submitted by Piraeus Bank seeking control of Marfin Popular Bank is valid and has called on Marfin to stop all attempts to promote its own bids seeking control of Bank of Cyprus and Piraeus Bank.

Marfin Popular Bank has revised lower its profit target for 2007, but adjusted higher the targets for 2008 and 2009. CEO Andreas Vgenopoulos blamed delays in the merger between Laiki, Marfin Financial and Egnatia Bank and that 2007 profits will amount to EUR 360 mln, not 370

Popular

cuts

target:

mln as previously forecast.

CYP

won’t

Sevan indicted:

devalue:

President Tassos Papadopoulos said that all economic indicators suggest that there will be no devaluation of the Cyprus pound when the country adopts the euro, as expected in January 2008.

Benon Sevan, the former director of the UN oil-for-food programme in Iraq, has been indicted by a US federal court in New York for allegedly taking bribes from the Saddam Hussein regime.

Trade deficit swells:

The trade deficit in Cyprus swelled by 17.3% to CYP 2,124.8 mln in JanuaryOctober 2006 compared to CYP 1,811.8 mln in January-October 2005.