Bank of Cyprus announces today that the court has approved the transfer of the banking business carried out by Bank of Cyprus Public Company Limited through its UK branch to Bank of Cyprus UK Limited. The transfer is due to take effect at 00.01am on Monday, 25 June 2012.

Bank of Cyprus UK Limited will be authorised and regulated by the Financial Services Authority and all eligible deposits in all currencies will be protected by the UK Financial Services Compensation Scheme (FSCS) up to £85,000 per customer.

Bank of Cyprus UK has operated in the UK since 1955 and specialises in supporting owner-managed businesses, while offering consistently competitive rates to savers.

Bank of Cyprus UK is in the process of communicating this change to its customers, its staff and other stakeholders.

For further information please contact:

Andy Martinus, Teamspirit Public Relations, 020 7360 7877, amartinus@teamspiritpr.com

James Terry, Teamspirit Public Relations, 020 7360 7877, jterry@teamspiritpr.com

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