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Beirut, March 18, 2008 - Combination discussions between Bank Audi sal and EFG-Hermes Holdings sae

Bank Audi sal – Audi Saradar Group announces that it is holding exploratory discussions with EFG-Hermes Holdings sae regarding a possible combination of the two institutions which, if it takes place, may generate significant commercial and financial synergies.

Bank Audi sal – Audi Saradar Group emphasizes that discussions are at a very preliminary stage, that no agreement has been reached, that such agreement would be conditional upon obtaining necessary shareholder and regulatory approvals, including the consent of the Central Bank of Lebanon.

A further announcement will be made in due course.