Dear Valued Customer,

We take great pride in bringing you NCB Capital, our newly-created independent investment company. It is the first subsidiary of a Saudi bank (the National Commercial Bank) to be licensed by the Capital Market Authority to handle investment banking, securities and asset management in the Kingdom. Operating under the name “NCB Capital Company" or “NCB Capital,” it will provide you with premier products and services through four divisions: Brokerage Services, Investment Services, Investment Banking, and Asset Management.

This major change comes as part of a larger restructuring operation of the banking industry in the Kingdom. Under the Capital Market Authority’s regulations, all banks in the Kingdom are required to spin off their securities and investment divisions into independent subsidiary companies.

Therefore, the management of the Mutual Funds and Brokerage services will be transferred from The National Commercial Bank (NCB) to NCB Capital Company. Of course, this change will have no negative effect on the brokerage and fund management services we currently give you. As far as you are concerned, it is business as usual, except for the title change to NCB Capital Company. However, in the near future you will start dealing with NCB Capital through your Investment Account which will be created for you, and all the related information will soon be communicated to you in order to ensure a smooth transitional process: one that you will hardly notice.

NCB Capital begins its journey with the inheritance of accumulated securities and investment experience since NCB became the first bank in the Kingdom to introduce mutual funds to the local market. Our management has adopted a high-performance culture, working in a totally client-focused environment. Our financial group’s pioneering work in developing a range of highly successful Sharia’a-compliant investment products and state-of-the-art stock trading technology are invaluable assets and, along with the trust of generations of Saudi citizens, constitute the priceless heritage passed on to us by NCB. Thus enriched, we set out with every confidence of success in our mission to become the leading securities and investment house in the region.

NCB Capital’s logo therefore reveals the real association with NCB. The rationale behind the design and choice of colours is that we want our clients, new and old, to feel comfortable and at home with us, and we could think of no better way to do this than to establish an image that reinforces the fact that NCB Capital, although independent, is in effect the investment services and asset management arm of The National Commercial Bank.

We genuinely aim to offer more opportunities, more customised services, more advanced technology. Hence, our strapline for the new company has encompassed these values under “We Look for More.” More for you.

We hope you share our excitement about this new milestone, and it gives us great pleasure to welcome you as one of our first clients at NCB Capital.

Should you have any questions or comments, please do not hesitate to call us on 800 244 3366.

Kind Regards,

Ahmed Farid Chief Executive Officer, NCB Capital Co.