BMB Investment Bank to increase capital

At the Ordinary General Meeting held today at the Bank's headquarters, approval was given for the full agenda which included the accounts for the year ended 31 December 2007.

Approval was also granted at the assembly for the distribution of 5% stock dividend to the shareholders. Additionally, a new Board of Directors was elected for a three year term as follows:

- Mr. Wilson Benjamin
- Sheikh Abdulla Ali Al Sabah
- Mr. Karunakar Nampalli
- Dr. Awadh Khalid Al Enezi
- Mr. Ebhraim Bu Hendi
- Mr. Alwaleed Kamal
- Mr. Mazen Abdulkarim

Following the meeting, an Extraordinary General Meeting was held at which approval was granted to make the necessary amendments to the Bank's Memorandum & Articles of Association in order to reflect the resolutions approved by the first meeting as well as to allow the Bank to seek a cross listing on another GCC stock market.

Albert I. Kittaneh, Chief Executive, said:
"We are extremely pleased with the steps taken today and which will allow the Bank to pursue its expansion and growth plans on a very solid footing. We look forward to the coming year with great anticipation and confidence in our ability to continue shaping a unique investment bank".

Bahrain Middle East Bank (BSC) was established in 1982. The Bank's shares are listed on the Bahrain Stock Exchange under (BMEB.BH) and are held by shareholders primarily across the GCC.

The Bank had announced earlier this month its 2007 full year results with a profit of $24.6m, an increase of 16.6% over the prior year profit of $21.1m.