ANNOUNCEMENT TO INVESTORS regarding the offering by the Hellenic Financial Stability Fund ("HFSF") of existing common, registered, dematerialised shares with voting rights, listed on the Regulated Market of the Athens Stock Exchange, with a nominal value of Euro 1.00 each (the "Offer Shares") in the share capital of National Bank of Greece S.A. ("NBG") with offering price range between Euro 7.30 and Euro 7.95 per Offer Share in cash (the "Price Range")

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