NATIONAL BANK OF GREECE

Athens, 11 December 2017

In response to a letter received from the Hellenic Capital Market Commission (Ref. 4133) dated 8/12/2017, National Bank of Greece S.A. (the "Bank", or "NBG") informs investors that:

Pursuant to Articles 10 and 11 of Law 3556/2003, NBG had proceeded with securitizations related to receivables portfolios, including Titlos plc.

On 1/12/2017, the Bank proceeded to termination of the Titlos plc securitization. As a result, on the same date, the bond issued by Titlos plc was canceled and the relevant receivable returned to its original position.

The aforementioned transaction had no effect on the financial position, results, cash flows and liquidity of the Bank on a consolidated and stand-alone basis.

Finally, it is noted that any relevant information in relation to Titlos plc securitization is included in the prospectus of the bond issued by Titlos plc, which remains available on the Bank's website https://www.nbg.gr/en/the-group/investor-relations/dept-investors/securitizations.