Sale of majority in LIA sal

Press Release

Sale by Bank Audi sal - Audi Saradar Group of 81%

of LIA insurance sal to Saham Finances sa

Beirut, June 27, 2012

Further to their joint announcement on May 15, 2012, Bank Audi sal - Audi Saradar Group and Saham Finances sa jointly announce that they completed the sale by Bank Audi and certain individual sellers of 81% of the share capital of LIA insurance sal on June 27, 2012, within the expected timeframe after receipt of the required regulatory approvals. The parties have agreed to maintain and develop the existing cooperation between Bank Audi sal - Audi Saradar Group and LIA insurance sal in the field of bancassurance in Lebanon.

Saham Finances sa, which intends to use Lebanon as its main hub to support its expansion strategy in the Middle East, will rely on the skills of the Management team of LIA insurance sal which will remain in place.

About Bank Audi sal - Audi Saradar Group

Bank Audi is a regional group with a universal banking profile. The Bank offers universal financial products and services including Corporate, Commercial, Individual, Investment, and Private Banking services. As at end-March 2012, Bank Audi's consolidated assets reached US$ 28.7 billion, principally driven by private customers' deposits of US$ 24.4 billion, with shareholders' equity reaching US$ 2.5 billion. Bank Audi's group staff headcount exceeds 4,800 employees and its shareholders' base encompasses more than 2,000 holders of common shares and/or holders of Global Depositary Receipts (GDRs) representing common shares.

Bank Audi ranks first among Lebanese banks and is positioned in the inner circle of top regional banking groups. Its shares are listed on the Beirut Stock Exchange. Its GDRs are listed on both the Beirut Stock Exchange and the London Stock Exchange.

About Saham Finances sa

Saham Finances sa is currently present in 15 African countries (including Morocco) through its ownership of 20 insurance companies, 1 reinsurance company and 2 support companies. Among those, we mention:

• CNIA SAADA, owned to the extent of 51.8% by Saham Finances sa, is listed on the Casablanca stock exchange. CNIA SAADA ranks fourth among insurance companies in Morocco is the leader in the automobile and health insurance sector.

• Colina Group, fully owned by Saham Finances sa, operates 15 companies in 13 African countries and is one of the leading insurance groups in ICIM area.

• Isaaf Assistance, owned to the extent of 67 % by Saham Finances sa, is a premier assistance insurance provider in Morocco with a 46% market share.

Saham Finances is effectively present in 5 geographic areas, with subsidiaries operating in similar environments North Africa, West Africa, Central Africa, Southern Africa and the Middle East.

The IFC and the ALAC Fund on the one hand, and Abraaj Capital on the other hand, recently took stakes in Saham Finances's capital with a view to support its expansion in Africa and the Middle East.