Property Assets

13 Aug 2009 10:34

13 August 2009 

European Islamic Investment Bank plc ("EIIB" or "EIIB Group")

Property Assets

The Board of EIIB announces that The House Limited ("THL"), which is a subsidiary of the EIIB Pan-European Islamic Real Estate Fund and which holds a portfolio of UK property of the EIIB Group (the "Property Portfolio"), has requested its finance provider to appoint a Receiver in respect of the Property Portfolio. The appointment is effective from 12 August 2009.

At 31 December 2008, the Property Portfolio was valued at £38.7m and had associated liabilities of £39.1 m.

There is no recourse to EIIB in respect of the obligations of THL.

ENDS

Enquiries:

EIIB plc Tel: +44(0)20 7847 9900 

Keith McLeod, Finance Director 

M.A. Mohaimin Chowdhury, Company Secretary  

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

Chris Sim 

Bobbie Hilliam 

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

Michelle James 

Riz Issa