Election of a New Board Member

Bank Audi SAL - Audi Saradar Group

Election of a New Member of the Board of Directors

April 11, 2012

The Ordinary General Assembly of Shareholders of Bank Audi S.A.L. - Audi Saradar Group convened on April 10, 2012 and resolved, pursuant to the resignation of Dr. Georges A. Gedeon Achi from the Board of Directors, to elect Mr. Youssef A. Nasr as a new member of the Board for the remainder of its current mandate (that will end upon holding the Annual General Assembly that will examine the accounts of the year 2012).

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Profile of the new Director:

Youssef A. Nasr

Age:58 - Lebanon

Independent - Non-executive

Youssef Nasr worked with the HSBC Group from 1975 until 2010. During his career in the HSBC Group, he worked in the New York, Paris, London, Toronto, Vancouver, San Paulo and Dubai offices. His most recent roles at HSBC were as the Group General Manager of South America (from 2003 to 2006) and Chairman and CEO of HSBC Middle East and North Africa (MENA) (from 2007 to 2010).

In addition to his work at HSBC, he has chaired and served on boards of numerous cultural, medical, professional and educational associations. He currently serves on the boards of various companies in North America in the areas of Private Equity, Infrastructure, Bio Technology, Electricity Generation and Real Estate.

Youssef Nasr speaks fluent English, French, Arabic and Portuguese. He holds a BA and MA in Mathematics from Cambridge University and an MBA degree from Harvard University.