Statement By Andre Sayegh, Chief Executive Officer Regarding Dubai World

“First Gulf Bank wishes to confirm that no senior executive released any statement related to FGB’s exposure to Dubai World and some of its subsidiaries including Nakheel, and the recent reports are completely unfounded."

Sayegh added “Bank’s only statement issued to press on 27th November reads as follows:
“We would like to confirm that amounts reported by newswires on FGB’s exposure to Dubai World and some of its subsidiaries including Nakheel are incorrect and absolutely overstated.”

“First Gulf Bank reconfirms that the Bank’s Corporate Communication Department headed by Maha Yassine, Senior Vice President, is the only official authority at the Bank releasing official statements to the media. Information provided by any unnamed personnel should not be considered as a statement by the Bank.” concluded Sayegh.

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