ANB Wins ‘Fund Manager’ Award

RIYADH, 18 May 2004 — The Arab National Bank (ANB) yesterday won “The Best Overall Fund Manager for 2003” in the Saudi Arabian Annual Investment Fund Awards. This is the second consecutive year that the bank has landed this award. The awards are given under the auspices of the Saudi Arabian Monetary Agency, through the Investment Products Committee. They are independently audited and verified by Ernst and Young, ANB stated. It said the awards are calculated on the basis of the performance of investment funds managed by Saudi banks in 13 categories. Of these, ANB’s Investment Services Group picked up first place in five categories and received awards in 11 categories overall.