Kuwait, May 19, 2007: Gulf Bank has been awarded "Best Retail Bank in the Middle East" for the third year in a row by Banker Middle East, the region's leading banking industry magazine.

Gulf Bank's unprecedented third win was announced at the Banker Middle East Industry Awards 2007 ceremony held at the Ritz-Carlton Hotel in Qatar. Winners were chosen by a judging panel of international industry experts from companies such as rating agencies as well as from some of the region's financial centers.

"No other bank has won this award three times in a row and I am delighted to see that our winning streak has continued," commented Mr. Bassam Yusuf Alghanim, Chairman and Managing Director of Gulf Bank. "he Banker Middle East award is testament to our success in building a world-class retail bank that offers superior customer service."

"With seven consecutive years of record growth and profitability, Gulf Bank is one of the region's fastest growing commercial banks. We are a market leader in product and service innovation and we are rapidly building a reputation as Kuwait's preferred local bank. More and more customers are casting their vote by switching their accounts to Gulf Bank", added Gulf Bank's Chief General Manager & CEO, Mr. Louis J. Myers.

Last month, Gulf Bank was named Best Bank in Kuwait in 2007 by Global Finance, the world's most influential finance publication. Gulf Bank was selected on the basis of its profitability, customer service, asset growth, competitive pricing and product innovation.

"It has been a stellar year for major award wins by Gulf Bank," Mr. Alghanim concluded. "It's satisfying to see the industry's experts agree that our customer-focused strategy has delivered consistently outstanding results. Our strong commitment to customer service remains a unique point of difference in Kuwait's competitive banking sector."