Discussions Discontinued

3 Nov 2008 07:00

EFG-Hermes Holding S.A.E. and Banque Audi S.A.L Announcement

EFG-Hermes Holding Company S.A.E. and Banque Audi S.A.L. jointly announce that, in light of current financial market conditions, they have discontinued their discussions regarding a possible combination of the two institutions.

The parties confirm that they will continue their collaboration on a number of projects and activities which add value to their respective customers and shareholders base.

Dina Al-SonbatyExecutive Director Corporate Strategy and Investor Relations dsonbaty@efg-hermes.com