Appointment of Mr. J.K. Olusegun Agbaje

Guaranty Trust Bank plc

Appointment of Mr. J.K. Olusegun Agbaje as Managing Director/Chief Executive Officer of Guaranty Trust Bank Plc.

The Board of Guaranty Trust Bank plc at its meeting held on Wednesday, June 22, 2011, appointed Mr. J. K. Olusegun Agbaje as the Managing Director/Chief Executive Officer of the Bank to fill the vacancy created by the recent passing away of our erstwhile Managing Director, Mr. Olutayo Aderinokun, subject to approval of the Central Bank of Nigeria (CBN).

Prior to his appointment as Managing Director/Chief Executive Officer, Mr. Agbaje served as an Executive Director of the Bank from January 2000 and was later appointed Deputy Managing Director in 2002, a position which he held until April 2011, when he was appointed as Acting Managing Director following the absence of our late Managing Director/Chief Executive Officer on Medical Leave.

With over 19 years of investment and international banking experience, Mr. Agbaje has earned a reputation as a truly accomplished and highly respected professional given his diverse experience in the financial services industry

Mr. Oluwole Oduyemi, Chairman of the Board, commented;

"Mr. Segun Agbaje is the natural successor to Mr. Aderinokun in line with the well defined succession plan of the Bank. Mr. Agbaje has an enviable mix of experience, dynamism and versatility in addition to a remarkable track record in the Financial Services Industry. Mr. Agbaje possesses the core values upon which the Bank was founded as enshrined in the Code of Corporate Governance of the Bank. The Board believes that Mr. Agbaje has the capacity to add immense value to the Bank and will offer him all the necessary support he needs to succeed in his new position"

12 July, 2011

PROFILE: Mr. Segun Agbaje

With over 19 years of investment and international banking experience, Mr. Agbaje oversees the general management of the bank's day-to-day operations and has earned a reputation as a truly accomplished and highly respected professional within the West Africa sub-region.

Mr. Agbaje joined Guaranty Trust Bank as a pioneer staff in 1991, after a rewarding stint at Ernst & Young, San Francisco, USA. He subsequently rose through the ranks to become an Executive Director in January 2000 and Deputy Managing Director of the Bank in August 2002. His experience cuts across most aspects of the Bank's business including commercial banking, investment banking, treasury, corporate planning and strategy, settlements and operations.

Mr. Agbaje possesses a deep understanding of the Nigerian business environment, having led the execution of large and complex transactions in financial advisory, structured and project finance, balance sheet restructuring, debt and equity capital raising in the Nigerian Energy, Telecommunications, Financial Services and Manufacturing sectors. In addition, he helped develop the Interbank Derivatives market amongst dealers in the Nigerian banking industry and introduced the Balance Sheet Management Efficiency system.

Segun has been very instrumental in the Bank's foray into the international capital markets over the years, which has translated into a US$350 million Regulation S Eurobond in January 2007 and a US$750 Global Depository Receipts (GDR) offer that same year, whose listing on the London Stock Exchange made Guaranty Trust Bank the first Nigerian company and the first Bank in Sun-Saharan Africa to be listed on the Main Market of the London Stock Exchange.

In 2011, he further led GTBank to launch the first Sub-Saharan Africa financial sector benchmark Eurobond when the Bank launched its USD500million Eurobond without a sovereign guarantee or credit enhancement from any international financial institution.

Mr. Agbaje serves on the board of several other notable business concerns, which include; Guaranty Trust Assurance Plc, Guaranty Trust Bank (Ghana) Limited, Guaranty Trust Bank (Gambia) Limited and Guaranty Trust Bank (UK) Limited.

He is an alumnus of the Harvard Business School and holds a B.Sc and MBA from the University of San Francisco, USA.

Until his recent appointment, Mr. Agbaje was Acting Managing Director of Guaranty Trust Bank plc, a position he was appointed to in April 2011, following the absence of our late Managing Director/Chief Executive Officer on Medical Leave.