National Bank of Greece upgrades to TEMENOS T24™ Model Bank to centralise international IT Operations

19 June 2007

At its annual client forum, Temenos Group (SWX: TEMN), the provider of integrated core banking systems, today announced that National Bank of Greece (NBG), one of the top 20 banks in Europe, is to upgrade from Temenos Globus™ to Temenos T24 Model Bank (T24) to centralise its European operations across seven subsidiaries. By installing a single integrated system along with a consolidated data centre, the bank will streamline its operations and significantly reduce its total cost of ownership.

Anthimos Thomopoulos, CFO and COO, NBG, says: “Our existing IT set up has served us well but we realise the limitations of running separate systems in each subsidiary. As we continue our expansion across Central and Eastern Europe, we must have a consolidated IT structure that can grow with our business. With T24 Model Bank installed on centralised servers, we’ll be able to support the existing network more efficiently and also roll the system out to new locations quickly, without the need for additional implementation work.”

NBG first installed Temenos Globus, the company’s original core banking system, in 1997. However, each subsidiary operates its own IT department, independent of the head office. The bank is currently undertaking a major standardisation of this structure and in May 2007 signed the deal for T24 Model Bank with Temenos. With a team of dedicated professional services staff, Temenos will identify common parameters across the bank’s network to configure a unique version, NBG T24 Model Bank. In conjunction, NBG will create a common data centre and a competence centre in Bulgaria to provide first level support for the system.

Temenos starts work immediately by analysing all current dispersed systems and expects to start the implementation of the NBG T24 Model Bank in early 2008, which will include localisation work to support the banks’ subsidiaries in Serbia, Romania, Bulgaria, Greece, Albania and Skopje. Temenos will also provide management consultancy services to ensure that business process change resulting from the roll out of the system is properly understood and managed. By aligning processes with the new T24 technology, Temenos can help the bank reduce customisation needs, identify efficiency gains, maximise Straight Through Processing and optimise the use of T24.

Model Bank includes pre-configured products and processes, and can achieve a lower implementation timeframe, minimise customisation, reduce implementation costs and bring tighter control over a project scope and deliverables.

T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on open system principles, and uses established technology standards such as HTTP, XML and HTML. It offers a single client view across the enterprise and can support large numbers of users with true nonstop resilience. Its fully-integrated architecture enables it to offer a significant cost advantage compared to other competing products. It offers multiple application server support and is the only system available with no end-of-day batch processing and so can genuinely boast of providing realtime 24/7 non-stop banking.

The announcement is made on the first day of the TEMENOS client forum in Bangkok, which brings together some 500 delegates, including worldwide bankers, key investors and industry analysts.

Andreas Andreades, CEO, Temenos, adds, “Having worked with NBG for 10 years, we’re delighted to once again be their partner of choice in such an important project. Our work with the NBG is an illustration of how we not only offer Model Bank for specific markets but also provide extensive services to tailor our product to suit a bank’s particular infrastructure and needs.”

Temenos has an international client-base of over 580 financial institutions and continues to attract global tier 1 and regional banks as a result of its superior products, T24 and Temenos™ CoreBanking.

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About National Bank of Greece
National Bank of Greece, the oldest and largest among Greek banks, heads the strongest financial group in the country. It boasts a dynamic profile internationally, particularly in South Eastern Europe and the Eastern Mediterranean. Founded in 1841 as a commercial bank, NBG enjoyed the right to issue banknotes until the establishment of the Bank of Greece in 1928. It has been listed on the Athens Stock Exchange since the latter's foundation in 1880. Since October 1999, the Bank has been listed on the New York Stock Exchange. The NBG Group provides a full range of financial products and services that meet the constantly changing needs of corporate customers and private individuals, including investment banking services, brokerage, insurance, asset management, leasing and factoring. The Bank's branch and ATM network, the largest in Greece (559 domestic banking units and 1374 ΑΤΜs), effectively covers the entire country. It is developing and expanding alternative distribution channels for its products, such as Mobile and Internet banking. Today, after recent acquisitions in SE Europe the Group's network overseas includes 891 units. One of the Bank's main strengths is the confidence shown in it by its customers, who hold over 9 million deposit accounts and more than 1.5 million lending accounts with NBG. Having reaffirmed its leading position in the Greek market, the Bank is further modernizing its operations, backed by investment in new technology, so as to better serve its customers and enhance its profitability. www.nbg.gr

About Temenos
Founded in 1993, Temenos Group AG is a provider of integrated modular core banking systems to over 590 financial institutions in 110 countries worldwide. Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, Temenos knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project. Headquartered in Geneva, Switzerland, the company has 43 offices in 33 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). For more information please visit www.temenos.com

For more information, contact:

Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1157
Email: mchuard@temenos.com

Ben Robinson
Temenos Investor Relations Manager
Tel: +44 (0) 207 290 3012
Email: brobinson@temenos.com

Bianca Morgan
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: bmorgan@temenos.com

Chris Patmore
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3596
Email: chris.patmore@metia.com