Al Salam Bank-Bahrain lists its share on DFM on March 26

Yousif Taqi, the Chief Executive Officer of the Bank said in a statement today that the listing comes in implementation of the decision of the Bank's Extraordinary General Meeting held on 10 September 2007 to list the Bank's share in any foreign stock market and entrusted the Board of Directors to specify the financial market to list the share in and the timing of listing as well as to take all necessary procedures and approvals from the pertinent parties and settle any incurring charges.

Taqi clarified that this announcement comes following receiving the approval of the Securities and Commodities Authority in Abu Dhabi and Dubai Financial Market (DFM) to list its share on DFM and after coordinating with the pertinent parties in both the Kingdom of Bahrain and the United Arab Emirates.

Meanwhile, Taqi clarified that one of the main reasons behind choosing DFM to list the Bank's share on was that a large number of the Bank's founders and shareholders are from the United Arab Emirates. He said that listing the share of Al Salam Bank-Bahrain in Dubai Financial Market will facilitate trading for shareholders in the UAE or even in other neighboring countries, and would give them the choice to deal in more than one market.

Taqi pointed out that there will be no certain percentage of the total outstanding shares allocated to Dubai Financial Market, and would depend on the shareholders' wishes in transferring their shares to DFM. He went on to say that there are no restrictions on individual or foreign ownership in general. Nevertheless, the rules set by the Central Bank of Bahrain require its approval on any ownership that exceeds 5% whether it was by an individual or by foreign, Gulf or local firms. Any buy or sell operation that would equal or exceeds 5% of the issued shares number should be carried out through the Bahrain Stock Exchange only, he clarified.

Taqi affirmed that Al Salam Bank-Bahrain continues to seek the best solutions and create the appropriate environments for its clients and shareholders to deal either in its shares or through using its distinguished services.

The Bank has recently announced its 2007 financial statements where it has scored a net profit of BD23.1m ($61.6m), an increase of 41% more than the net profit of BD16.4m ($43.5m) for the period ended 31 December 2006. Earnings Per Share in 2007 was fils 19.3 compared to Fils 15.1 in 2006. Total assets grew 112% to BD397.8m ($1.06bn) as of 31 December 2007, compared to BD188m ($501m) in 2006. The Bank also announced the distribution of 10% cash dividends of paid-up capital.