Bank of Valletta plc

Capital/Financing Update • Mar 13, 2012

OFFICE OF THE COMPANY SECRETARY 58, Zachary Street, Valletta VLT 1130 - Malta Telephone: (356) 2275 3032, 2275 3231 Fax: (356) 2275 3711

BOV/219

COMPANY ANNOUNCEMENT

The following is a Company Announcement issued by Bank of Valletta p.l.c. pursuant to the Malta Financial Services Authority Listing Rules:

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Debt Issuance Programme €40,000,000 4.25% Notes due 2019

Reference is made to Bank of Valletta p.l.c.'s (the "Issuer") €125,000,000 Debt Issuance Programme (the "Programme") approved by the Listing Authority for the admissibility to listing on the Official List of the Malta Stock Exchange (Company Announcement 204/2011).

The Issuer announces that it will be issuing Series 2/2012, Tranche 1 of Notes under the Programme, consisting of a maximum of €40,000,000 4.25% Notes due 2019 (the "Notes"). Application has been made to list the Notes on the Official List of the Malta Stock Exchange. Rizzo, Farrugia & Co. (Stockbrokers) Ltd. is the sponsor in relation to the Programme.

Full details on the Notes can be found in the Prospectus dated 31 May 2011, as supplemented on the 18 July 2011 and on the 12 March 2012, and in the relative Final Terms dated 12 March 2012. The Prospectus, the Supplements and the Final Terms, as well as the application forms, will be available during office hours as from the 20 March 2012 at the Issuer's branches and at other authorised financial intermediaries, contact details of whom can be found in Annex 1 of the Final Terms. The Prospectus, the Supplements and the Final Terms may also be downloaded from the website of the Issuer (www.bov.com).

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Dr. Catherine Formosa B.A., LL.D. Company Secretary

13 March 2012