Burgan Bank receives 2008 JP Morgan Quality Recognition Award

Notes and media contacts

About J.P. Morgan Treasury Services:

The Treasury Services businesses of J.P.Morgan is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 39 countries, J.P. Morgan Treasury Services (JPM TS) is the world's largest provider of treasury management services. JPM TS is a division of J.P. Morgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts

About JPMorgan Chase & Co:

JPMorgan Chase & Co (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of Dow Jones Industrial Average, JPMorgan Chase & Co serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan, Chase and WaMu brands.

About Burgan Bank:

Burgan Bank, a subsidiary of KIPCO (Kuwait Projects Company), is a regional bank with majority owned subsidiaries in the MENA region. The youngest and most dynamic regional commercial bank, established in 1977, the Bank has acquired a leading role in the retail, corporate and investment banking sector through innovative product offers and technologically advanced delivery channels. Its subsidiaries include Gulf Bank Algeria (Algeria), Bank of Baghdad (Iraq) and Jordan Kuwait Bank (Jordan).

It has continuously improved its performance over the years by applying an expanded revenue structure, good asset quality, diversified funding sources and a strong capital base. The adoption of state-of-the-art services and ground-breaking technology has positioned it as a trendsetter in the domestic market and within the MENA region. At present it enjoys a wide reach through our network of 21 branches and over 120 ATM's making it one of the widest ATM networks in the GCC.

The brand has been created on a foundation of real values - of trust, commitment, excellence and progression to remind us of the high standards to which we aspire. 'People come first' is the foundation on which its products and services are developed and are further augmented by its three pillars of innovative technology, staff competency and customer service. It is committed to offering an enhanced banking experience.

Excellence is one of the banks 4 key values and Burgan Bank continually strives to maintain the highest standards in the industry. The Bank was recertified and is still the only bank in the GCC with ISO 9001:2000 certification in all its banking businesses. It also has to its credit the distinction of being the only bank in Kuwait to have won the JP Morgan Chase Quality Recognition Award, 12 year in succession and was also acknowledged as the 'Best Local Private Bank' in Kuwait in the Fourth Annual Euromoney Private Banking Survey 2007. Further, for two consecutive years, it was conferred the COMMERZBANK Recognition Award, for maintaining high standards of quality, efficiency and reliability while processing Euro currency transactions as well.

The Bank's commitment to uphold best practices was recognized when it won the region's first Hawkamah-UAB Bank Corporate Governance Award 2007 while its marketing excellence was recognized as amongst the best in the region by the Middle East Business Achievement Awards 2008.

For further information, please contact:

Aabha Gandhi
PR Manager
Memac Ogilvy & Mather
Tel: +965 24610371
Fax: +96524610376