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News Article

23 September 2009

ADCB is the first GCC bank to qualify to issue Global Medium Term Programme (GMTN)

Abu Dhabi, 23 September 2009: Abu Dhabi Commercial Bank PJSC ("ADCB") is pleased to announce the completion of the update of its Global Medium Term Programme ("GMTN").

Mr. Ala'a Eraiqat, CEO of ADCB, stated that while the Bank had actively issued debt in the past under its European Medium Term Note Programme ("EMTN"), the preparation and completion of the disclosure and due diligence processes required to update the GMTN to meet the rigorous international transparency and disclosure standards has been an arduous and rewarding task for the senior management at ADCB. The management team at ADCB worked closely with teams of professional advisers through many months in order to complete the GMTN update. He also stated that the update required extracting substantial amounts of information from the bank's management information systems to meet the disclosure and due diligence requirements.

ADCB has regularly issued debt securities in the past, completing a number of public and private transactions in recent years. Among such issuances are its placement of AED1.3bn (US$354m) of Regulation S floating rate notes in May 2009 and its issuance of SGD145m (US$99.5m) of Regulation S two-year fixed rate notes in June 2008. ADCB believes that this GMTN update will allow it to offer a range of debt securities throughout global debt capital markets.

ADCB is currently holding investor meetings to communicate information directly and transparently with capital market specialists and investors regarding ADCB's franchise, portfolio and financial results. These meetings are being conducted in Hong Kong, Singapore, London and Abu Dhabi, among other international financial centers.

Disclaimer: This communication is not an offer of securities for sale in the United States, Australia, Canada, Japan or any other jurisdiction where to do so would be unlawful. ADCB and ADCB Finance Cayman have not registered, and do not intend to register, any portion of the Notes in any of these jurisdictions and do not intend to conduct a public offering of securities in any of these jurisdictions. In particular, no securities of ADCB or ADCB Finance Cayman have been nor will be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable state securities laws. In the United States, any offer will be made only to qualified institutional buyers ("QIBs") in reliance on Rule 144A under the Securities Act or another available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Outside the United States, an offer may be made to non-U.S. persons in accordance with Regulation S under the Securities Act. Prospective purchasers of any securities that may be issued under the GMTN programme are hereby notified that the sellers or issuers of any such securities may rely on the exemption from the registration requirements of the Securities Act provided by Rule 144A of the Securities Act or another available exemption from registration."
This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom; (ii) persons within the United Kingdom who are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); and (iii) persons within the United Kingdom who are high net worth entities and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive") this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.
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