Dubai - February 21st 2006: National Bank of Fujairah (NBF) today inaugurated its first branch in the Mussafah area of Abu Dhabi. The expansion comes after NBF recently announced their move into the retail banking market and the subsequent launch of the bank's new corporate identity.

H.H. Sheikh Saleh Bin Mohammed Al Sharqi, NBF Chairman, said: "NBF has built a solid foundation to now be able to strategically move into the retail banking space. The opening of our Musaffah branch is a part of our plan which was set in motion over a year ago, and we plan to have a total of 12 branches across the country by end of 2006."

In the events leading up to the opening of the new branch, NBF announced a 1 to 100 share split, launched its new corporate logo and brand and announced record earnings for 2005 with net income up 40% to AED 175 million. NBF shares are listed on the Abu Dhabi Securities Market.

"We are very happy to inaugurate our seventh branch in the United Arab Emirates in the Mussafah area to provide smart banking solutions to the population in the surrounding areas," said Asad Ahmed, NBF General Manager. "This branch inauguration is another positive step towards delivering on the plans approved by the Board of Directors."

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About NBF:
National Bank of Fujairah was established in 1982 in the Emirate of Fujairah.  Its key shareholders include the government of Fujairah (39%) and the government of Dubai (10%).  It is primarily a corporate bank with strong trade finance expertise, some limited retail banking activities and growing businesses in investment services and small business financing.  National Bank of Fujairah intends to deepen its product range over the next few years by selectively expanding its retail banking services while continuing to build its core corporate banking services. The existing branch network is set to increase from the current six branches to up to 12 by the end of the year.

NBF is listed on the Abu Dhabi Stock Market under the symbol "NBF".

For further information, please contact:
Jayne Savastano
Head of Human Resources
04 5078401

Adnan Anwar
Head of Finance:
09 2029250

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© Press Release 2006