Al Salam Bank - Bahrain to hold an Extraordinary General Meeting on 10 September 2007

The EGM agenda consists of four main points: the splitting of the par value of the share price to 100 fils instead of one Bahraini Dinar (i.e. 10 shares for each share); incorporating Zakat clause to the Memorandum of Association and authorize the chairman or whoever is authorized by him to undertake and follow up the needed procedures to obtain the regulatory approvals for the amended Memorandum of Association and complete the needed notary procedures to execute the above two points.

Additionally, the board will approve listing the bank's shares in any of the GCC stock exchanges and to authorize the board of directors or whoever is authorized by them to identify the time of listing in any of these stock exchanges and to complete the needed formalities and approvals from regulatory authorities and pay relevant expenses.

If the required quorum is not available, a second meeting will be held on Tuesday 11 September 2007 at 12:30 PM at Al Dana-3 Ballroom at the Gulf Hotel, Kingdom of Bahrain.

The Chairman of the Board of Directors, H.E. Mohammed Ali Rashid Alabbar commented,

"Al Salam Bank Bahrain board members and executive management are continuously seeking to meet the shareholders expectations. No doubt, splitting the par value of the share price and listing the Bank's share in one or more than one of the GCC stock exchanges will facilitate ASBB shares trading at the shareholders original countries. This will result in increasing the volume and value of the traded shares which will reflect positively on the share price."

He added "the board recommendations of splitting and listing shares at the EGM are in line within the bank strategy to become one of the leading shari'a compliant banks in the region through providing innovative financial solutions and rewarding investments and solutions to its clients and shareholders".

Al Salam Bank - Bahrain 120 million shares were listed at Bahrain stock exchange since April 2006 and by splitting the share par value, the figure will raise to one billion & two hundred millions shares.