Kuwait, June 8th , 2007: Gulf Bank is proud to announce that it has won "Best Retail Bank in Kuwait" in the 2007 Asian Banker Excellence in Retail Financial Services awards program.

The Asian Banker Excellence in Retail Financial Services awards are Asia's most prestigious banking industry awards program and are held in high regard by the financial services sector. Gulf Bank's award will be presented at a gala awards function in Shanghai on the 7th and 8th of June.

"Gulf Bank is honored yet again to be recognized as the best retail bank in Kuwait," commented Mr. Bassam Y. Alghanim, Chairman and Managing Director of Gulf Bank."The Asian Banker award follows Gulf Bank's unprecedented third consecutive award for 'Best Retail Bank in the Middle East' by Banker Middle East and 'Best Bank in Kuwait' by Global Finance magazine. I am proud to say that Gulf Bank is truly the region's most awarded retail bank."

"Importantly, the Asian Banker awards are based on a detailed evaluation of all submissions based on a wide-ranging performance assessment conducted by a distinguished panel of international referees," Mr. Nazem Al-Qenae, General Manager, Retail, for Gulf Bank added. "Gulf Bank's award was achieved through the quality of our retail operation, our products and our strong business processes. It is an outstanding achievement for the staff and management team of Gulf Bank."

Gulf Bank is one of the fastest growing retail banks in the region. With seven consecutive years of record growth and profitability, its success has been built on a single-minded commitment to customer service. Gulf Bank is a market leader in product and service innovation and is rapidly building a reputation as Kuwait's preferred local bank.

Research indicates that retail customers appreciate Gulf Bank's superior customer service, financial security and sound advice. Gulf Bank was recently the first bank in Kuwait to introduce a personalized ATM service, and the first to offer co-branded American Express Credit Cards. Gulf Bank's network has grown to 38 distinctively branded branches in convenient locations throughout Kuwait and, as part of the banking relationship, customers receive a wide variety of benefits including unique prize draws, SMS alerts and retail store discounts. Gulf Bank is also rated highly by customers for the friendliness and knowledge ability of its staff.

"I would also like to take this opportunity to thank our customers for their loyal support"" Mr. Alghanim concluded. "We certainly appreciate being honored in the top regional and international awards but the one award that matters most is our customers' satisfaction. Gulf Bank will continue to deliver an award-winning service that meets and exceeds the needs of our customers."