Receipt of Funds from QIA

Commercial Bank of Qatar announces receipt of funds from Qatar Investment Authority for proposed share subscription

Commercial Bank of Qatar, the largest private sector bank in Qatar, announced that it has received funds from Qatar Investment Authority which are to be used to subscribe for a further issue of shares in the capital of the Bank.

The proposed issue would involve a placement of 20,620,530 additional ordinary shares at a price of QAR 78.30 per share, being the price at which previous placements to the Qatar Investment Authority have been made, and would increase the Qatar Investment Authority's shareholding in Commercialbank to 16.7%. The placement would be ratified at an Extraordinary General Assembly of Commercialbank to be held in early 2011.

The proposed new shares would not have any entitlement to dividend or other profit distribution in respect of the 2010 financial year.

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