PRESS RELEASE

26 NOVEMBER 2008

NMB BANK LTD READMITTED TO THE CLEARING HOUSE

NMB Bank Ltd was readmitted to the Clearing House on Tuesday 18 November 2008.  This effectively means the bank was out of the Clearing House for one day.

Asked to comment on the circumstances surrounding its suspension, the Bank said “It is common knowledge that when one of the commercial banks was taken out of the Clearing House on the morning of 17 November 2008, we became a victim of the contagion effect.  The suspended bank owed us $195 quintillion in clearing settlement.  The suspension of ‘the one bank’ affected two other banks that failed to settle with us an amount of $121 quintillion.  One of the said banks has since paid us $103 quintillion. 
 
However, as the Bank was in surplus on Tuesday 18 November 2008 we were readmitted to the Clearing House.

We want to assure our customers and all stakeholders that NMB Bank is in a sound financial position.”

End

Should you have any queries regards this Press Release please contact the Chief Executive Officer, NMB Bank Ltd, Mr. B. P. Washaya on 759651/9.