Commenting on the article published today, 10/2/2016, in Al-Qabas Newspaper titled: "Court Verdict issued against the Derivatives Case". Please note that during 2010, Gulf Bank filed a lawsuit against Kuwait Pearl Real Estate Company, requiring it to pay an amount equal to USD 539 M, representing the losses incurred by the Bank in 2008, due to repayment of the company's debt to foreign banks. A verdict was issued yesterday by the Court of First Instance dismissing the case, but the bank is in the process of filing an appeal. We would like to advise you that the said verdict will have no financial impact on Gulf Bank because the company's debt has already been written off in the bank's books, and therefore, there will be no material impact on the bank's share or its financial position. The bank is not obligated to pay any amounts in this regard, and the news in Al-Qabas Newspaper stating that "the Bank is obligated to pay KD 375 M" is not correct.