Bank of Valletta plc - Transfer of shareholding

On 26th June 2006 Bank of Valletta was informed that Banco di Sicilia SpA(BdS) will be seeking the consent of the Competent Authority to transfer to its holding company Capitalia SpA the qualifying shareholding that Banco di Sicilia holds in BOV, consisting of 16,128,000 ordinary shares of LM0.25 cents each fully paid up, that represent 14.55% of BOV’s total share capital.

BOV was informed that, following this transfer, there will be no change in the ultimate beneficial owner of this BOV equity participation, since this transfer is being undertaken as part of an internal reorganisation of the shareholding participations held by various companies of the Capitalia Group and that this transaction is targeted to be finalised prior to the 30th June 2006. The date of the transfer of the shares will be known on execution.

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