Largest ever DR capital-raising from Middle East, topping US$1 billion

NEW YORK, May 22, 2008 — The Bank of New York Mellon, the global leader in asset management and securities servicing, has been selected by Global Investment House (Global) as depositary bank for its global depositary receipt (GDR) program. Global's GDRs are the first ever depositary receipts to be issued by a Kuwaiti company. Each Global GDR represents five ordinary shares. The GDRs trade on the London Stock Exchange under the symbol "GLOB." The ordinary shares are listed on the Kuwait Stock Exchange, the Bahrain Stock Exchange and the Dubai Financial Market, all under the symbol "GLOBAL." The Global GDRs and shares have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S. absent registration or an applicable exemption from the registration requirements.

The Global GDR program represents the largest ever DR capital-raising from the Middle East, with more than US$1 billion raised.

Founded in 1998, Global is a leading asset management and investment banking company in the Gulf Cooperation Council (GCC) and the Middle East and North Africa regions. Global's operations are divided into five business divisions: Asset Management, Principal Investments & Treasury, Investment Banking, Real Estate, and Brokerage.

"As we bring our GDRs to the global market, we want the support of the most experienced depositary bank," said Maha Al-Ghunaim, Chairperson and Managing Director of Global. "We believe The Bank of New York Mellon has the resources and expertise necessary to help our GDRs achieve the market visibility we seek."

"This is a ground-breaking GDR program from Kuwait, and we are pleased to serve as depositary," said Michael Cole-Fontayn, chief executive officer of The Bank of New York Mellon's Depositary Receipt Division. "We have extensive experience in pioneering new DR markets and look forward to helping Global elevate its profile internationally."

The Bank of New York Mellon's Depositary Receipt business is conducted through The Bank of New York subsidiary, which acts as depositary for more than 1,300 American and global depositary receipt programs, acting in partnership with leading companies from 63 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.

The Bank of New York Mellon has been conducting business in the Middle East and Africa for nearly 100 years. The Company has representative offices in Abu Dhabi, Beirut, Cairo, Istanbul and Johannesburg, and works with a wide range of banks, governments and other financial institutions throughout the region.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $23 trillion in assets under custody and administration, more than $1.1 trillion in assets under management, and services $12 trillion in outstanding debt. Additional information is available at bnymellon.com.

This release is for informational purposes only. The Bank of New York Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.