In response to recent press speculations Bahrain based BMI Bank today released the following press statement

“We confirm that we have exposure to Saudi based Ahmed Al Gosaibi Brothers & Co. and to Saad Trading and Contracting. We do not have any exposure to either Awal Bank or The International Banking Corporation (TIBC). The exposures to both Al Gosaibi and Saad have been significantly reduced since the third quarter of 2008 and do not pose a threat to our Capital Adequacy or our Liquidity.” Said Andrew Bainbridge, Chief Executive Officer of BMI