To: All Licensed Banks

Subject: Reorganization and Change in Control of Licensed Banks

Article 4-2.06(c) of Oman Law No. 7/1974 the Banking Law 1974 provides as follows:

• “No commercial company or other business entity holding 10% or more of the voting shares, or the equivalent thereof of a licensed bank shall merge into or combine with or effect a consolidation with any other business entity or issue or transfer any interest in itself in excess of 25% of its outstanding voting shares, or the equivalent thereof, to any person or any group of persons acting jointly or to a common purpose without obtaining prior approval of the Board of Governors to such merger, consolidation, issuance or transfer”.