For Immediate Release 				20 November,  2001


NATIONAL BANK OF BAHRAIN PARTNERS WITH TAIB BANK 

‘Alliance combines Exceptional Market Niche with Cutting-Edge Trading Technology’

National Bank of Bahrain (NBB) and TAIB Bank E.C. (TAIB) today announced an alliance to offer direct access online trading services to investors.

Under the terms of the alliance, the two Bahrain-based financial institutions will create a co-branded portal, providing NBB customers with direct, high-speed online trading access through TAIB’s state-of-the-art trading platform, which is the first of its kind in the Middle East.  

Through this portal, NBB customers will have the ability to trade in U.S. equities in real-time, from the office or home, without broker intervention.  Trading in the after-hours market, a facility previously available only to institutional investors, will also be available.  Investors who are not familiar with the Internet or are frequently on the move will have the option to place orders over the telephone with a staff of multilingual brokers.

"This alliance fits perfectly within our strategy to offer the financial community access to US markets and expand our equity trading market share," stated Mr. Hassan Juma, Managing Director of NBB. "TAIB is a well-respected pioneer in electronic brokerage and we're looking forward to capitalising on the synergies that exist between our two businesses."

In his statement, Mr. Iqbal G. Mamdani, TAIB Vice Chairman and CEO, said, "We’re delighted to have an opportunity to provide direct access trading to major U. S. stock exchanges for NBB’s customers.  We look forward to working closely with NBB to ensure that their customers benefit from the convenience such a trading portal offers to the community at large." 

NBB and TAIB will engage in joint marketing efforts to promote this alliance to current and prospective clients.  The launch is  scheduled for the first quarter of  2002.  

TAIB Bank E.C., an international Investment Bank based in Bahrain and listed on the Bahrain Stock Exchange, conducts its business in the U.S., U.K., and in the regional markets of the Gulf, the Indian Sub-continent, Turkey and Central Asia.

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For more information, please contact the Media Co-ordinator:
Vivian Jamal
Stark Middle East 
Tel: 973 537594, Fax: 973 537593
E-mail: vivian@taib.com