Combination discussions

18 Mar 2008 07:00

Bank Audi SAL- Audi Saradar Group18 March 2008 FOR IMMEDIATE RELEASE Beirut, March 18, 2008 Combination discussions between Bank Audi sal and EFG-Hermes Holdings sae Bank Audi sal announces that it is holding exploratory discussions withEFG-Hermes Holdings sae regarding a possible combination of the two institutionswhich, if it takes place, may generate significant commercial and financialsynergies. Bank Audi sal emphasizes that discussions are at a very preliminary stage, thatno agreement has been reached, that such agreement would be conditional uponobtaining necessary shareholder and regulatory approvals, including the consentof the Central Bank of Lebanon. A further announcement will be made in due course. This information is provided by RNS The company news service from the London Stock Exchange