The Saudi Investment Bank Announces the Acquisition of the Assets of SIB BNP Paribas Asset Management Company by Alistithmar Capital (a subsidiary of the Bank)

Based on its approval dated 25 September 2011, the CMA approved the request submitted by Alistithmar Capital (a wholly owned subsidiary of the Saudi Investment Bank “SIB”) to acquire the assets of another SIB subsidiary namely SIB BNP Paribas Asset Management Company (“SIB BNP”), and amend Alistithmar Capital’s business profile to include all licensed activities (Dealing, Managing, Arranging, Advising, and Custody).

Completion of the acquisition is still subject to finalizing the necessary legal documentation amongst the shareholders of the two companies.

Alistithmar Capital and SIB BNP would like to assure all SIB BNP’s customers, suppliers, and related parties that the acquisition will not adversely affect the relationship, their rights, and level of service they have been accustomed to expect from SIB BNP, as all the obligations, rights, employees, and systems of SIB BNP will be transferred to the merged entity.