Abu Dhabi, Jun. 8, 2005 (WAM) -- Abu Dhabi Commercial Bank (ADCB) announced at a dinner reception held at the Beach Rotana Hotel Tuesday a financial products joint venture with MacquarieBank Limited (MBL ). The joint venture will bring the benefits of MBL'streasury and commodities expertise, products, staff and resources to ADCB'sextensive banking franchise throughout the GCC.

The joint venture between Macquarie and ADCB has established a treasuryand commodity derivatives capability exclusively for ADCB's valued customers.

It combines the strengths of both financial institutions, applying Macquarie'srisk management expertise and systems to ADCB's extensive regional bankingfranchise.

The joint venture is committed to establishing ADCB as a leader in itsfield in the UAE. ADCB and MBL are delighted to announce the inclusionof MBDA as a key investor in the initiative. MBDA have actively supportedthe creation and rapid development of the new business. Due to theirparticipation, the new business has received formal approval for offsetaccreditation from the UAE Offset Group.

"The combination of ADBC's extensive banking franchise and MBL's expertisewill be a significant boost for the capability of Gulf companies in managingtheir currency and commodities strategies and risks. We look forwardto introducing our clients to the new services - both in the UAE and beyond,"says Saeed Mubarak Al Hajeri, Chairman of ADCB.

"The needs of our clients are constantly changing and evolving," addedEirvin Knox, CEO, ADCB. "The joint venture with MBL, which provides accessnot only to systems but to expertise and a sophisticated product range,will put our clients at the cutting edge of treasury and commodities riskmanagement."Ben Preston, MBL Executive Director responsible for the joint venture,said this was an exciting initiative for MBL, and represents a significantundertaking in the UAE.

"The joint agreement will enable us to share our substantial internationaltreasury and commodities expertise with ADCB and its corporate clientsto meet their increasing need for sophisticated risk management productsand solutions. ADCB is well established and has a valuable franchisein the Gulf region. We are very excited to be partnering with ADCB atthis exciting phase in its development," said Preston.