Cyprus Popular Bank Public Co Ltd (the “Bank”) announces that the Central Bank of Cyprus (“CBC”), acting as the Resolution Authority under the Resolution of Credit and Other Institutions Law of 2013 (the “Law”), has proceeded with the appointment of Ms Andri Antoniades as the Special Administrator to implement the restructuring of the Bank.

Based on the above Law all the powers, duties and responsibilities of the shareholders, directors and managers of the Bank are assumed by the Resolution Authority and or by the Special Administrator, who acts in accordance with terms of reference and instructions as set by the Resolution Authority.