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Acceptance reached 80.2% Offer to the Shareholders

AL SALAM BANK-BAHRAIN B.S.C.’s VOLUNTARY CONDITIONAL OFFER TO ACQUIRE 100% OF THE ISSUED AND PAID UP ORDINARY SHARES OF BAHRAINI SAUDI BANK B.S.C.

Reference is hereby made to the public announcements dated 2 June 2009 and 22 April 2009 and the offer document (the “Offer Document”), dated 21 April 2009, of Al Salam Bank-Bahrain B.S.C. (“Al Salam”) to acquire 100% of the issued and paid up ordinary shares of Bahraini Saudi Bank B.S.C. (“BSB”) at an exchange ratio of one new share of Al Salam for every two shares of BSB (the “Offer”).

On 30 June 2009, acceptances received amounted to 400,941,159 shares in BSB for Al Salam's offer above, representing 80.2 % of the issued and paid up ordinary share capital of BSB.

The shareholders of BSB are hereby informed that the last date for receiving completed acceptance and transfer forms (“Initial Offer Closing Date”) has been extended from 28 June 2009 to 12 July 2009 with the approval from the Central Bank of Bahrain.

Offer Document and the acceptance and transfer forms can be obtained from and submitted at the following addresses:

Al Salam Bank-Bahrain B.S.C.
Building 22, Avenue 58
Al-Seef District 436
PO Box 18282
Manama
Kingdom of Bahrain 

Tel: (973) 17 560000
Fax: (973) 17 560003

Sunday to Thursday
8:00 AM to 3:00 PM 

Bahraini Saudi Bank B.S.C.
Al Sadah Building
Government Avenue
P.O. Box 1159
Manama
Kingdom of Bahrain

Tel: (973) 1757 8999
Fax: (973) 1721 0989

Sunday to Thursday
7:30 AM to 1:30 PM

and Sunday, Tuesday and Wednesday
4:00 PM to 6:00 PM​

KPMG Fakhro
5th Floor
Hedaya House 2
Government Avenue
P.O.Box 710
Manama
Kingdom of Bahrain

Contact Person: Mr. Srinivas Sudheer
Tel: +973 17215080
E mail:
svenkatapuram@kpmg.com

Sunday to Thursday
8:00 AM to 3:00 PM

 ​

By the order of the Board of Directors of:

Al Salam Bank-Bahrain B.S.C.