On Tuesday, July 18 2006, the largest in value, so far, online auction in the Greek Electronic Auction Market, was held with great success by cosmoONE.

The auction, which was of the English Reverse type, was held on behalf of the National Bank of Greece regarding a turn key project for the supply of computer hardware, software and services. In particular, the tendered equipment included more than fifteen thousand (15,000) computers, eight hundred (800) Servers, more than three thousand (3,000) laser printers, more than four hundred (400) LAN switches and more than seven hundred and fifty (750) uninterruptible power chargers. Moreover, the tender included the supply of rollout and support services for five (5) years.

The budgeted cost was around 23 million (23.000.000€) and greatly exceeded the budget of the previously largest electronic auction made by cosmoONE which related to the sale of property, also for the National Bank of Greece.

In the competitive process the largest information technology companies worldwide were involved. The auction lasted approximately two hours and ended after twenty eight (28) three-minute extensions, while the number of bids received amounted to forty-two (42). Because of the high level of competition that was developed during the auction, the National Bank of Greece achieved an impressive reduction in the estimated cost.

The National Bank of Greece, in cooperation with cosmoONE, over the past few years has conducted a large number of electronic auctions, both for the procurement of office supplies, consumables and various types of equipment, as well as for the sale of real estate for the Bank Group.