ANB Board Proposes Share Capital Hike

JEDDAH, 10 December 2007 — Arab National Bank (ANB) Board decided to recommend to the extraordinary general assembly that is expected to meet during the first quarter of 2008 to increase its capital from SR4,550 million to SR6,500 million by offering to its shareholders 3 bonus shares for each 7 shares. ANB’s total shares number will increase from 455 million to 650 million shares, a 43 percent increase. Abdullatif Al-Jabr, ANB’s chairman said on its Tadawul website yesterday that “shareholders registered in the bank’s records on the date of the general assembly meeting to be held during the first quarter of 2008 will be eligible for the bonus shares, after obtaining the regulatory approvals.”