Kuwait-August 10, 2008: Fitch Ratings, a leading international credit rating agency has affirmed Gulf Bank's Long-term Issuer default rating at an "A" and its short term issuer default rating at an "F1", demonstrating the Bank's continuance of presenting a stable outlook and indicating the strong obligation the Bank has in meeting its financial commitments.

Fitch's rating report mirrors the optimism of the local economy and the Bank's strong shareholding base. It further brings to light Gulf Bank's committed strategy for growth across all its divisions: retail, corporate, international and investment banking. The rating also affirms Gulf Bank's status as a leading player in Kuwait's banking and financial services sector.

Fitch's rating reinforces the Bank's position as one of the highest rated banks in the region.