Press Release: 16 April 2008

Kuwait Financial Brokerage convenes its AGM & changes its name to Watani Financial Brokerage

Al Fulaij: We are moving ahead with our expansion strategy to provide distinctive and exclusive brokerage services throughout NBK's branch network.

The Kuwait Financial Brokerage Company, a subsidiary of NBK, held on Tuesday April 14th 2008 its Annual Ordinary & Extraordinary General Meeting for the fiscal year 2007. The meeting has approved to increase the capital of the company and change its name to Watani Financial Brokerage Company.

Chairman of the company, Salah Al Fulaij said that the meeting has approved to increase the company's capital from KD. 3,000,000 to KD. 5,000,000 and to change its name from "Kuwait Financial Brokerage Company" to "Watani Brokerage Company". It is quite gratifying to note that the company achieved a remarkable increase in net profits for the year 2007" Al Fulaij added.

It is worth mentioning that Kuwait Financial Brokerage Company has recently opened three full-fledged and fully equipped centers for financial brokerage services within the comfortable surroundings of Al Thahabi lounge at three major NBK branches, namely Al shamiya branch, Al Fahahail (Coastal) and Al Jahra (Al Hajraf Complex). A similar center will be launched soon at South Surra area with several other centers in the pipeline within the framework of an expansion strategy to provide customers with a difference that could only come from NBK.