Manama 26th June 2007: The Bahrain based leading Islamic Banking conglomerate the Albaraka Banking Group B.S.C. (ABG)  today announced that it has finalized an Agreement with Misys on behalf of certain ABG Group members. According to this agreement ABG will be deploying Misys Equation Islamic core banking system.

The Chairman of the Board of Directors of ABG, Shaikh Saleh Abdulla Kamel said "We are very proud to see ABG advance steadily in achieving its development objectives which serve the communities in which it operates.  We, with the grace of Allah, were successful in investing the proceeds of the initial public offering (IPO), which we launched last year, in expanding the business of all of our subsidiaries, and we are starting to reap the benefits of these prudent policies.  We are confident that the coming period will show more clearly the results of the huge investments we made in our different units and operations including the implementation of the advanced technologies. We will also continue to cope with the new technology.

ABG B.S.C will install the state of the art core banking system, Misys Equation Islamic, which is an integrated, real-time, multi-currency banking system that helps organizations deliver competitive products and excellent service to customers. It supports consumer and corporate banking as well as treasury operations within a single platform.

The ABG B.S.C had evaluated several vendors, prior to selecting Misys Equation Islamic Core Banking as the backbone of its technology framework. Announcing the win, Guy Warren, EVP & General Manager, Misys Banking, adds, "ABG is one of the most innovative banks in the Middle East and Africa. It has clear expansion objectives in the region as well as plans to grow more internationally and we are delighted that we have been chosen to help it achieve them.  We will continue to provide the best services and solutions available to the bank and will deliver our proven technology to support its geographic expansion and enhance its already strong market position.  We are delighted to be able to help it achieve its goals and growth targets."

From his side,  Mr. Adnan Yousif, President & Chief Executive of ABG, commented: "This strategy relies heavily on the best IT solutions available. "Misys' credentials as a globally acclaimed solution provider, the rich functionality and advanced technology of Misys Equation Islamic Core Banking system, and an impeccable implementation track record convinced us that they were the right partners for ABG. We are proud to be the first Islamic bank in Bahrain to deploy Misys Equation Islamic and are confident that the solution will enable us to aggressively launch new products and innovative services, and deploy multiple delivery channels to meet our ambitious growth plans. We will also continue to coordinate the business strategies and increase co-operation and business between the units of the Group and expand our operations into new geographical regions."

-Ends-

About AlBaraka Banking Group: 
Albaraka Banking Group B.S.C. (ABG), which is a Bahraini Joint Stock Company listed on the Bahrain and Dubai stock exchanges, is a leading international Islamic bank with a Standard & Poors long-term rating of BBB- and a short-term rating of A-3. ABG offers retail, corporate and investment banking and treasury services strictly in accordance with the principles of the Shari'a.  The authorized capital of ABG is US$1.5 billion, while the total equity amounts to about US$1.2 billion.  The Group has a wide geographical presence in the form of subsidiary banking Units in ten countries, which in turn provide their services through more than 216 branches.  These banking Units are Banque Al Baraka D'Algerie, Algeria; Al Amin Bank, Bahrain; Al Baraka Islamic Bank, Bahrain; the Egyptian Saudi Finance Bank, Egypt; Jordan Islamic Bank, Jordan; Al Baraka Bank Lebanon, Lebanon; Al Baraka Bank Ltd, South Africa; Al Baraka Bank Sudan, Sudan; Bank Et-tamweel Al Saudi Al Tunisi, Tunisia; Al Baraka Turk Participation Bank, Turkey and Al Baraka Bank, Pakistan.   

About Misys plc
Misys plc (FTSE: MSY.L), the global software and solutions company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in depth understanding of customers' markets and operational needs. In banking and treasury & capital markets Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks.  In healthcare Misys is also a leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Misys employs around 5,500 people who serve customers in more than 120 countries. For more information, visit: www.misys.com

For further information, please contact:
Albaraka Banking Group (ABG)
Corporate Communications Department
Tel:  +973-17-541122
Fax: +973-17-536533
Website: www.abg.bh
maljowesir@barakaonline.com 

Suzan Muhanna
Regional Marketing Manager, MEA
Misys Banking Systems
+971 4 314 8130
suzan.muhanna@misys.com 

Edward Taylor
Global Head of Public Relations
Misys Banking Systems
+44 (0) 208 486 1661
Edward.taylor@misys.com

Press Release 2007