BAHRAIN, 21 March 2005 — Bahrain-based Arab Banking Corporation (ABC) has been mandated by Bank Saderat Iran, Iran’s second largest bank that is 100 percent owned by the government, to underwrite a $160 million five-year term advance facility. The proceeds of the facility will be made available for the redevelopment plan of the University of Tehran and Tehran University of Medical Sciences. The facility, which is guaranteed by the Iranian Ministry of Economic Affairs and Finance, was signed in Manama in the presence of representatives of the Central Bank of Iran, Bank Saderat Iran, Tehran University and the Iranian Ministry of Economic Affairs and Finance.