High Level of Interest in BSB Rights Issue

BAHRAIN, 4 February 2005 — Bahraini Saudi Bank (BSB) has confirmed strong levels of inquiries relating to its forthcoming rights issue announced recently. Shareholders of the Bahrain-based BSB have supported the bank’s call to increase its capital at an AGM held in Manama. “Having received the support of our shareholders and board, we’re now in the final stages of preparing the issue,” BSB Chairman Shaikh Fahad Mohammed Al Athel said. “We’ll be raising an additional 30 million Bahraini dinar capital, to be used to meet the current and future needs of the bank, which will see paid up capital increased to 50 million dinars,” said BSB CEO Khalid S.S. Shaheed.