Kuwait, 3 September, 2007: Gulf Bank has demonstrated its commitment to nationalization, by officially welcoming a group of 150 Kuwaitis to the bank as new staff members, as well as handing out certificates to 70 summer intern graduates, at a special breakfast event held at the Sheraton Hotel on the 3rd September.

All 150 new recruits were welcomed to the organization hosted by Gulf Bank's CEO, Mr. Louis Myers, together with Gulf Bank's senior managers, and attended by Hind Al-Subeeh, MGRP Assistant General Secretary. The employees also received a special gift to commemorate the beginning of their new careers with Gulf Bank.

"I would like to extend my warmest personal wishes to all our new employees," said Mr. Louis Myers, Gulf Bank's CEO & CGM. "With hard work and dedication, they can be assured of a great future with Kuwait's number one private sector employer."

"Gulf Bank is extremely pleased to be a leader in the recruiting and training of talented Kuwaiti professionals. Our successful human resources strategy has led to Gulf Bank achieving a local employment ratio of more than 59 per cent, higher than any other bank " and any other private sector employer " in Kuwait. Gulf Bank has also increased its training budget to offer greater career development, as well as providing attractive employment opportunities for suitable graduates," Mr. Myers added.

Key representatives from Kuwait's Manpower and Government Restructuring Program (MGRP) attended and were thanked for the significant support they offered Gulf Bank. The strategic co-operation started in 2005 and MGRP has been instrumental in recruiting the most talented interns.

"We are delighted to be able to give these outstanding young men and women the opportunity to build rewarding careers in the banking sector," commented Mr. Surour Al-Samerai, Gulf Bank's General Manager for Human Resources.

"We were highly impressed by the calibre and enthusiasm of these fine young graduates and we are confident that they will flourish with Gulf Bank's support."

"Through programs such as the summer internships and with generous support from MGRP, Gulf Bank is helping to nurture the future generations of Kuwait's business leaders," Mr. Al-Samerai added.

MGRP is a government initiative to encourage more Kuwaitis to enter the private sector and is an important step in boosting the private sector's ability to support a growing population of professional Kuwaitis. "Gulf Bank has actively sought the support of MGRP and we are proud of the achievements we have been able to make jointly with them. This is an important initiative not just for our organization but more so for our economy as it is being increasingly adopted by other organizations in Kuwait" added Louis Myers.

Gulf Bank has made a concerted effort to increase the ratio of Kuwaiti nationals in its employment, whilst enhancing the levels of training and professionalism among its staff. Gulf Bank has already won the prestigious Localization Award from the GCC Council of Ministers of Labour and Social Affairs for two years in a row and has been nominated as a contender for the award in 2007. The previous awards recognize Gulf Bank's achievement in employing the highest percentage of Kuwaiti nationals in the private sector.