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News Article

12 October 2005

ADCB Launches First High Net Worth Proposition - 'Excellency Wealth Management'

ADCB announced yesterday the launch of its most prestigious Wealth Management proposition to cater to the needs of the High Net Worth individuals.

The launch took place with an elegant and unique dinner party at the Beach Rotana Hotel Abu Dhabi in the presence of 350 of ADCB's Wealth Management Clients that were taken through an evening of refined culture.

The proposition is designed to meet the financial requirements of the customer whilst adding value every step of the way.

Ervin Knox - CEO of ADCB said:

"As a part of Consumer Banking, Excellency Wealth Management is designed to specially cater to the needs of High Net worth Individuals with innovative packaged product."

Ala'a Eraiqat, Executive Vice President - Head Consumer Banking Group added:

This is the first time ADCB has gone to market with an offering that has been tailor made for a specific customer segment. We have taken care to ensure that the enhanced features and benefits of Excellency are exclusive in such a way that they recognize the customers' individuality. We believe that the High Net Worth segment is clearly a focus for all banks and for ADCB winning this segment can only be done by providing outstanding products and exceptional customer service. Hence our proposition was articulated taking in account all the financial needs of this segment both on the liability and assets side, with great focus on the Relationship Management and prompt communication with the customer".

Julie Azharian, AVP - Wealth Management and Private Banking Product Manager concluded:

"The Excellency Wealth Management account is a prestigious financial proposition dedicated to catering to the needs of high net worth individuals by providing dedicated relationship managers, state of the art centers across the UAE, to deliver our clients with superior products and services. We have tied up with some of the world's best in class providers of financial products, such as Gulf Finance House, to bring to our clients a host of 3rd party products including Mutual and Hedge Funds, structured products, offshore trusts, Bancassurance benefits and services. Gulf Finance House, one of the leading Islamic investment banks in the region, is the lead sponsor of Excellency Wealth Management. We are also offering our clients with one of the most powerful debit and credit cards within the UAE, hosting a comprehensive bouquet of benefits and services such as luxury travel services, lifestyle management services, and exclusive haute couture diamond designers and much more."

ADCB is hosting its first Excellency Wealth Management Centre in their newly renovated Corniche Branch, which was opened recently to the public.

About ADCB:

Abu Dhabi Commercial Bank - ADCB is a diversified full service bank. Other than banking services that span corporate, retail and commercial banking ADCB is active in the areas of treasury derivatives, infrastructure finance, private banking and wealth management.

Since 1985 ADCB has reported successive years of record profits and consistent growth. Our approach is driven by the ability to create value for our customers by leveraging our skills and expertise. Amongst UAE banks, ADCB has the second largest deposit base with total assets as at 30/06/2005 of AED 46.8 billion and FY05 first half net profit of AED 844million.

Our strong franchise, supported by a network of 40 UAE branches and 2 in India is reflected in our recent rating of our EMTN of Aa3, which is the highest awarded to a bank instrument in the Middle East.

The Government of Abu Dhabi, through Abu Dhabi Investment Authority (ADIA), holds 65% of the capital while the rest is held by various UAE Institutions and Nationals. ADCB's market capitalization as of 30/09/2005 was AED 54 Billion (US$14.5 Billion).

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