For Immediate Release 						January 23, 2001

TAIB BANK ANNOUNCES RECORD DIVIDEND



TAIB Bank E.C, the Bahrain-based International Investment Bank, which earlier announced a record Net Profit of US $ 15.5 million for the year 2000, which is 10% higher than the Net Profit for 1999, has now announced that the Board of Directors of the Bank will be recommending approval of a cash dividend payment of 7% to shareholders on its paid up capital, at the upcoming Annual General Assembly of shareholders in March 2001. 

"On approval by the shareholders, this will be the highest cash dividend declared by the Bank so far", said Mr Iqbal G. Mamdani, Vice Chairman of the Board, and Chief Executive Officer of the Bank.

TAIB Bank E.C., an international Investment Bank and listed on the Bahrain Stock Exchange, conducts its business in the United States of America, the United Kingdom and in the regional markets of the Gulf, the Indian Sub-continent, Turkey and Central Asia

-END-

For more information, please contact:
Huda Radhi (Tel: +973 533334 Fax: +973 533174)