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Mashreq will create More Millionaires in 2009 with a Weekly MashreqMillionaire Draw

MashreqMillionaire adopts new strategy of "invest today, win tomorrow"
Dubai, United Arab Emirates, January 25, 2009 - Mashreq is committed to creating more opportunities for its customers to become millionaires by introducing weekly MashreqMillionaire draws from Feb 15^th this year. In global recessionary times, when most consumers are cutting back on spending, MashreqMillionaire would like to announce that customers will now have four opportunities in a month to become millionaires.

The challenging economic environment has made consumers reassess investment strategies and question a host of decisions that are usually taken for granted. While more anxiety is being felt globally in these turbulent times, Mashreq announces a refreshingly simple, yet bold re-design of its iconic MashreqMillionaire product.

"We want to provide customers more support and opportunity to the community at this challenging time" announced Mashreq 's Head of Retail Bank, Douglas Beckett, as he unveiled the launch of weekly MashreqMillionaire draws.

Mashreq has a legacy of innovative offerings that have inspired product development in the region. It is interesting to note that MashreqMillionaire has distributed over AED 280 million in its lifespan of 14 years. It has created over 170 millionaires in this period across all nationalities and walks of life. Now it will create weekly millionaires for the rest of the year.

Apart from the change in the draw frequency, MashreqMillionaire has also been simplified as a product. With a new features of 'invest today, win tomorrow', investors do not have to invest by a certain date and wait for 60 days to qualify for the usual monthly draw. Going forward, all investors will qualify for the next weekly draw as long as they hold a valid certificate on the day before the draw. "As part of our promise to be the most convenient bank in the UAE, we continue to simplify our procedures and provide value products to all our customers," added Beckett.

Omar Asghar, Head of Wealth Management at Mashreq , added, "We are very pleased to launch the new, rejuvenated MashreqMillionaire proposition which we are confident will attract investor attention and will reach out to all segments in our community as a risk-free, capital guaranteed investment opportunity with the potential of a very lucrative upside."

MashreqMillionaire draws will continue to be supervised by the Dubai Economic Department to ensure fair and transparent practices. "Like the UAE, our customers have aspirational goals for success and Mashreq would like to participate in some way to be able to facilitate this ambition," added Asghar.

MashreqMillionaire certificates are available at all Mashreq branches, UAE Exchange and Al Ghurair Exchange outlets. Mashreq 's banking customers can also purchase online via www.mashreqbank.com.

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About Mashreq
Mashreq is the largest private bank in the UAE and also the second oldest. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking. Among its many firsts it was the first to launch such products as travelers' cheques, credit cards and ATMs.

It is invariably among the highest performing banks in the region. This year it recorded a Net Profit of over AED 1.5 billion. At the end of this year's first quarter its Total Assets stood at AED 94.1 billion.

Mashreq has received numerous international awards, particularly for quality management. According to independent research it has more ISO certifications than any bank in the region by a wide margin. It's most recent acknowledgement was the Best Bank in the UAE 2008, from Euromoney.

As a leading financial Institution in the UAE Mashreq aims to be world class in every facet of its business, including its social responsibility to the community it serves. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.

© Press Release 2009