DUBAI, 8 November 2006 — National Bank of Dubai (NBD) announced it will expand its investment banking business in the Middle East, after receiving approval to operate as an authorized firm from the Dubai International Financial Center. Through its 100 percent-owned subsidiary NBD Investment Bank Limited (NBD-IB), it will provide a full range of wholesale banking products, including investment banking, asset management and private equity. In the initial phase, NBD-IB will focus on the Gulf Region. During its second phase of growth, operations will be expanded to include the greater Middle East, Turkey, India and China.