Kuwait - 29 June 2011: Gulf Bank today proudly announced that it has been awarded the coveted 'Best Corporate Governance' award by Banker Middle East, the region's leading banking industry magazine. The awards ceremony was held at Dubai's prestigious Ritz Carlton Hotel on 22 June 2011. Winners were chosen by a judging panel of industry experts drawn from international rating agencies and the region's leading financial centers.

Fawzy Al- Thunayan, General Manager of Board Affairs said: 'Gulf Bank's corporate governance policies have been created to assist the Board in managing the Bank's operations to the very highest standards of international best practice. These standards ensure accountability, fairness, and transparency in our relationships with all our stakeholders and underpin the trustworthy, ethical environment in which the Bank's business decisions are made.' Effective corporate governance is a competitive necessity for driving any successful modern business. Gulf Bank has gone through a series of processes to achieve the Best Corporate Governance award. These include following and implementing recognized corporate governance guidelines set by the management and board of directors such as: Independence, Best in Class Standards, Defined Risk Appetite, and Holistic View of Governance and Risk. Al Thunayan added: 'The Corporate Governance award highlight's the success of the Bank's growth strategy and the tangible progress the Bank has made over the last year. This has been aided by Gulf Bank's commitment to principle-based, value-driven corporate governance, and the focus we have brought to best practice corporate governance initiatives across all areas of the Bank. We are honoured to receive this award, which endorses our total commitment to good governance policy, risk control, transparency and ethics. '

The Banker Middle East Awards, which are held each year, recognize businesses in the region that have excelled in providing exceptional levels of customer service and innovation across a range of sectors, from basic banking products to high-end investment services. They were established to set the highest benchmarks for the industry. The award's panel of judges nominates banks and financial organizations that have shown outstanding improvement and success over the past 12 months.