IRF is pleased to announce that yesterday it completed the acquisition in the open market of approximately 3.8 million shares in Marfin Popular Bank, a commercial banking group listed on the Athens Exchange, for approximately €31.6
million in cash.

This acquisition was funded through a credit facility arranged with a commercial bank. These shares, when aggregated with IRF's existing interest in Marfin Popular Bank, represent approximately 1.5% of Marfin Popular Bank's outstanding shares as of 31 December 2006.  IRF's current intention is to acquire share opportunistically in the market and to retain the minority stake as an investment.

Marfin Popular Bank is the result of a merger between Marfin Financial Group, Egnatia and Cyprus Popular Bank which occurred in the last quarter of 2006 and as a result is a significant bank in both Greece and Cyprus, with diversified banking interests in the retail, commercial and investment banking sectors. Currently, Marfin Popular Bank has a market capitalisation of approximately €6.5 billion.