Rasmala Regulatory News (RMA)

European Islamic Investment Bank plc

("EIIB")

Corporate Transaction

15 June 2011

EIIB announces that TriTech I LLC, a United States based oil and gas exploration company ("TriTech"), has signed an agreement with JGC Energy Development (USA) Inc. ("JGC") to sell all of its oil and gas assets in the Pearsall Field, Texas. Total gross proceeds of the sale are expected to be approximately USD 65 million, or approximately USD 10,300 per acre, which will be entirely settled in cash on completion. The transaction is subject to conclusion of satisfactory due diligence by JGC, and it is anticipated that the transaction will be completed within 45 days.

EIIB, through a subsidiary, owns approximately 78% of TriTech. The remainder is held by individual investors and Al Rajhi Holdings. The total net proceeds of the sale to EIIB will be determined on closing with funds received on completion. Proceeds are subject to payment of fees, expenses and taxes (including US capital gains tax at 35%). As of 14 June 2011 EIIB had invested a total of USD 17.5 million in TriTech.

The sale of these assets will generate a substantial profit for EIIB compared to both EIIB's invested capital and the value of the assets as reflected in the 2010 year end accounts (USD 41.0m). The transaction is likely to have a material impact on EIIB's financial performance in 2011. EIIB intends to re-invest the proceeds of the sale, after accounting for relevant fees, expenses and taxes, in its ongoing activities. The result of this transaction is expected to potentially put EIIB in a position to pay a dividend in respect of 2011.

Commenting on the sale, EIIB's CEO, Subhi Benkhadra, said "I am delighted to announce this transaction, the first exit from EIIB's private equity portfolio. This investment has proven to be extremely profitable for EIIB, generating an estimated unleveraged net IRR of at least 35%. I would like to thank the management of TriTech, along with EIIB's management team, for their exceptional efforts. I would also like to thank Al Rajhi Holdings, our partners in TriTech, for their support in sourcing and managing this highly successful investment".