July 2009 Trowers & Hamlins Trowers & Hamlins , the International law firm, has advised Capinnova Investment Bank Capinnova Investment Bank , the Bahrain-based Islamic investment bank, on a $20million investment in a brand new retail construction project in Bahrain. Capinnova Investment Bank Capinnova Investment Bank is the Shari'a compliant arm of BBK (formerly known as Bank of Bahrain and Kuwait) and their investment has been structured according to Islamic principles, on the basis of istisna'a (construction finance) and an ijara forward lease. Construction on what will be the largest commercial shopping mall in Bahrain's historic Muharraq area is due for completion mid-way through 2010. Neale Downes, Partner at Trowers & Hamlins Trowers & Hamlins in Bahrain, s: "It's clear the global and regional downturn has affected the commercial and residential construction market here in Bahrain. However, advising on a deal such as this is proof positive that wellp-lanned projects with strong fundamentals and clearly identified and underserved markets can still get off the planning tables and onto the construction site." Neale Downes also believes the fact that the construction project is based in an area primarily populated by Bahraini locals, rather than expats, is significant. Adds Neale Downes: "The success of this shopping mall will be far less reliant on expat spending. The site is in Bahrain's historic core. We are delighted to have worked with Capinnova Capinnova on a project that will prove very important to the local population and which, in line with Shari'a principles, will provide tangible social benefit to the community". In a sign of their growing relationship with Capinnova Capinnova , Trowers & Hamlins Trowers & Hamlins has also recently advised Capinnova Capinnova on a separate investment of $20million into a Bahrain-based industrial group through an aluminium financing deal. - Ends - Notes to editors: Trowers & Hamlins Trowers & Hamlins is an international and City law firm with 118 partners and over 700 staff. They have three offices across the UK and five offices in the Middle East (Abu Dhabi, Bahrain, Dubai, Cairo and Oman) as well as formal association and/or co-operation agreements with firms in Saudi Arabia, Syria and Jordan. Trowers & Hamlins Trowers & Hamlins is a limited liability partnership. Capinnova Investment Bank Capinnova Investment Bank B.S.C.(c) is an independent provider of world class Shari'ah compliant investment products and services for corporate, high net worth individuals, family businesses and government institutions, regionally and globally. CIB is a fully owned subsidiary of Bank of Bahrain and Kuwait ("BBK"), one of the leading commercial banks in Bahrain and the GCC and is regulated by the Central Bank of Bahrain. CIB is a Closed Bahraini Shareholding Company. For more information, please contact: Neale Downes Partner Trowers & Hamlins Tel: +973 17 515602 (Bahrain) Nick Mattison Mattison Public Relations Tel: +44 20 7645 3636 (London) Tom Yazdi Mattison Public Relations Tel: +44 20 7645 3636 (London)

© Press Release 2009 omar 1.1:zy