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Beirut, 3 November, 2008 : Bank Audi – EFG Hermes Press Release

Bank Audi sal – Audi Saradar Group and EFG-Hermes Holding Company sae jointly announce that, in light of current financial market conditions, they have discontinued their discussions regarding a possible combination of the two institutions. The parties confirm that they will continue their collaboration on a number of projects and activities which add value to their respective customers and shareholders base.

Bank Audi sal – Audi Saradar Group                            EFG-Hermes Holding Co, sae
                          Beirut                                                                Cairo