Rasmala Regulatory News (RMA)

15 March 2010

European Islamic Investment Bank plc ("EIIB")

Directorate Change

The Board of EIIB is pleased to announce the appointment of Mr. Subhi F. Benkhadra, aged 46, as Chief Executive Officer of EIIB with immediate effect. Mr. Benkhadra, is currently a Non-Executive Director of EIIB and joins from Esterad Investment Company BSC, a Bahrain-based publicly quoted Investment Company, where he held the position of Chief Executive Officer since May 2003.

Details relating to Mr. Benkhadra's appointment remain as announced on 3 July 2008, except that he is currently a director of Palma Capital Limited, a DIFC company; and Accelerator Technology Holdings Limited, a Guernsey company. Mr. Benkhadra holds a B.Sc (Engineering) from the University of Bath, UK and an MBA from City University Business School, UK.

Mr. Benkhadra has no beneficial or non-beneficial shareholdings in EIIB.

There are no further disclosures required to be made in respect of Mr. Benkhadra with regard to paragraph (g) of Schedule 2 of the AIM Rules.

Commenting on the appointment Mr. Adnan Ahmed Yousif, Chairman of EIIB said: "I am delighted that Mr. Benkhadra has joined EIIB. He brings a wealth of experience and knowledge of financial services in both Europe and the Gulf, and will provide inspirational leadership for the Bank".

Mr. Benkhadra added: "I am delighted to be joining a Bank of the calibre of EIIB. I know the Bank and its staff well from my time as a Non-Executive Director. I am excited by the challenges and opportunities which will arise as the Bank enters its next phase of development. We are seeing early signs of improvement in global markets and, although we remain cautious about the rate of recovery, I am confident that the Bank is well positioned to use its strong capitalisation and liquidity to develop its position in the growing Islamic Banking market."

Mr. Keith McLeod, the Interim Chief Executive Officer will step down from this role and revert to his role as Finance Director. The Board would like to extend its thanks to Mr. McLeod for taking on the role of Interim Chief Executive Officer during this transition period.

Enquiries:

EIIB plc Tel: +44 (0)20 7847 9900

Subhi Benkhadra, Chief Executive Officer

Keith McLeod, Finance Director

Evolution Securities Tel: +44 (0)20 7071 4300

Bobbie Hilliam

Chris Sim Fishburn Hedges Tel: +44 (0)20 7839 4321

Michelle James

Andrew Marshall