Rasmala Loan Note

11 June 2012

European Islamic Investment Bank plc

("EIIB" or "the Company")

Rasmala Holdings Limited ("Rasmala") loan note conversion

Further to the announcement on 6 January 2012 relating to the investment in Rasmala, EIIB is pleased to announce that it has exercised its right to convert loan notes totalling USD 11,000,000 into 84,680,523 newly issued ordinary shares in Rasmala ("Rasmala Shares") at an exercise price of USD 0.1299 per Rasmala Share. The conversion is subject to the approval of the Dubai Financial Services Authority. Following conversion, EIIB will hold 91,602,887 Rasmala Shares representing 51.4% % of Rasmala's enlarged share capital.

The remaining loan notes totalling USD 5,000,000 are expected to be converted into Rasmala Shares on 6 January 2013 in accordance with the terms of the Loan Note Instrument dated 5 January 2012. 

For further information please contact:

EIIB plc Tel: +44 (0)20 7847 9900

Zulfi Caar Hydari, Chief Executive

Keith McLeod, Finance Director & Deputy CEO

Westhouse Securities Tel: +44 (0)20 7601 6100

Antonio Bossi