Moody's assigns A3/Baa1 ratings to GIB's $4bn EMTN programme

Moody's added that GIB's A3 deposit rating is based on the bank's standalone financial strength (represented by a D+ bank financial
strength rating mapping to a Ba1 baseline credit assessment) as well as four notches of uplift reflecting an assessment of the likelihood of
support for the bank in case of need from its majority owner, the Government of Saudi Arabia.

Moody's previous rating action on GIB was on 6 April 2009 when it confirmed the bank's A3/Prime-2/D+ ratings, with a stable outlook.

The principal methodologies used in rating Gulf International Bank were Moody's "Bank Financial Strength Ratings: Global Methodology" (February
2007) and "Incorporation of Joint-Default Analysis into Moody's Bank Ratings: A Refined Methodology" (March 2007), and available on
www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have
been considered in the process of rating the bank can also be found in the Rating Methodologies sub-directory on Moody's website.

GIB is headquartered in Manama, Bahrain and at the end of June 2009 had total assets of $17.12bn.