al khaliji

• The Board endorses the appointment of His Excellency Sheikh Hamad Bin Faisal Al-Thani as Chairman of al khaliji

Doha, 17th February 2009: Al Khalij Commercial Bank (Q.S.C.) ("al khaliji") today confirmed that the Board of Directors took note of the appointment of His Excellency Sheikh Hamad Bin Faisal Al-Thani as Chairman of al khaliji, succeeding to Tariq Al Malki.

The endorsement by the al khaliji Board of Directors follows Board Resolution No. 2/2009 by the Board of Directors of Al Diar Real Estate Investment Company acting in its capacity as founding shareholder of al khaliji, approving the replacement of the existing Chairman of al khaliji, Mr. Tariq Al Malki, in accordance with the al khaliji articles of association.

Prior to joining al khaliji, His Excellency held a number of prominent positions, including the post of Minister of Economy and Commerce of Qatar, and Vice Chairman at Qatar National Bank ("QNB").

Tariq Al Malki commented, "I am proud to look back on the achievements made over the past 2 years during my tenure as Chairman and Managing Director of al khaliji. From the creation of our brand to the acquisition of BLC Bank (France) S.A., as part of al khaliji's geographical expansion plan, the progress we have made and the goals we achieved are showing the market we are strong, secure, and capable of delivering on our promises."