Jawad Business Group signs USD30 million loan facility with Standard Chartered Bank

18 November 2009, Bahrain - Jawad Business Group, the Bahrain-based retail and distribution company announced today that it had signed a structured term loan facility of USD30 million with Standard Chartered Bank. The three year funding facility will be utilized for their strategic expansion plans in the GCC.

Jawad group is a leading Bahrain based conglomerate with strong presence across the-GCC and India in fashion, footwear, restaurants, home retail, distribution and food retail. They represent more than 100 world-class brands in this region in addition to the Avis Rent a Car business and joint ventures with Travelex and Agility.

Faisal Hassan Mohammed Jawad, Chief Executive Office Jawad Group said, "We are very pleased with the continued support Standard Chartered has given us and we hope to continue working together in the future."

"The loan facility which Standard Chartered has provided will enable Jawad Business Group to fund the continuing growth story in our core businesses and to further expand our market presence in the Gulf and India. This loan will help to cement the key role we play in the GCC retail market and is also testament to the bank's commitment to its clients."

Jonathan Morris, Chief Executive Officer Standard Chartered Bank Bahrain said, "Jawad Business Group is a very important and longstanding client of Standard Chartered Bank. This is third such loan facility we have arranged for Jawad Business Group in the past five years which reflects our strong relationship and commitment to the Group."

"This transaction underscores Standard Chartered's ability to offer value-added solutions to support local Bahraini companies, in this case a longstanding independent player in the regional retail market. As Bahraini companies grow and take their business internationally, Standard Chartered is able to offer our unique footprint across Africa, Asia and the Middle East to support their expansion."

"This transaction with the Jawad Business Group also demonstrates our on-going commitment to support the retail sector which is one of the most important and fastest growing parts of the economy, not just in Bahrain but across the Middle East."

Standard Chartered Bank Bahrain, established in 1920, is the First Bank in Bahrain and has a network of 5 branches and a sales outlet. Standard Chartered's key brand promise is clear; we believe in establishing ourselves as our clients' 'Right Partner' in their banking and financial needs. We aim to offer innovative products and services that fully meet our clients' financial needs.

For further information, please contact:

Nimmi Kamal
Head Corporate Affairs Bahrain, Standard Chartered Bank
Tel: +973 3977 076
E-mail: Nimmi.Kamal@sc.com

Noor Mohamed
Media contact person Jawad Business Group
Email: noor.mohamed@jawad.com

Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered PLC, listed on both the London Stock Exchange and the Hong Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and the number of employees have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.

Standard Chartered aspires to be the best international bank in its markets through leading by example to be the right partner for its stakeholders. The group now employs 73,000 people, representing 115 nationalities, in more than 1,700 branches and outlets located in over 70 countries. The bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, with balanced income derived from both Wholesale and Consumer Banking.

The group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. For more information, please visit: www.standardchartered.com

About Jawad Business Group
Jawad Business Group established in 1960 operates more than 625 retail stores across the Gulf Co Operation Council States and India with interests in food retail and distribution , fashion , footwear and children wear franchises , home retail, quick service , casual dining and coffee shop franchises, travel and leisure and third party logistics.