FIMBank Plc

Board/Management Information • May 16, 2012

COMPANY ANNOUNCEMENT

The following is a Company Announcement issued by FIMBank p.l.c. ("FIMBank" or the "Group" as the case may be) pursuant to Malta Financial Services Authority Listing Rules 5.86 et seq. covering the period between 1 January 2012 and the date of this Announcement:

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Interim Directors' Statement

Markets where the Group is active continued to demonstrate mixed signs ranging from a cautious return to economic safety in parts of North Africa, a prudent outlook for the MENA region while, elsewhere in Africa, political tensions in the Sudan region contrasted with greater normality in the economic environment of other emerging markets where the Group continues to be active. In this climate, the Group's exposures remained shortterm and supporting trade-related flows.

Although the approach to new trade finance business remained selective and focused on developing safe transaction structures with established corporate clients, a progressive pick-up in new opportunities, particularly in commodities such as energy, metals and softs, is in evidence. FIMBank also continued to further develop its range of funding products with enhancements to the Easisave account facility and new deposit offerings.

For the period under review London Forfaiting Company was again a strong and consistent driver of the Group's performance. The other main Group entities, mainly the factoring joint-undertakings in the UAE, Russia, Brazil and India, continued to show steady growth while the progress of Egypt Factors remains heavily dependent on normality returning to this promising market. Current market conditions and outlook maintain the call for prudence and consistent attention to strong risk management, compliance and a selective approach to business. The Group's achievements have always been linked to it being able to remain focused on its expertise – trade and emerging markets – and the future promises to be no different.

The Directors also take the opportunity to make reference to the announcement of 13 March 2012 in relation to the proposed transfer by Massaleh Investments K.S.C.C. of its 38.8% interest in FIMBank to Burgan Bank S.A.K. (or "Burgan") and the latter's intention to inject new equity which will see it increase its prospective holding to above 50% of FIMBank's issued share capital. The transaction is at the stage where the due diligence process by Burgan on FIMBank is progressing with no noteworthy developments to report.

In conclusion, the performance for the period under review remains supported by prudent impairments, a growing balance-sheet, healthy capital and liquidity ratios and is in line with the trends indicated at the time of the approval of the 2011 Financial Statements. Otherwise, no material events or transactions have taken place that would have an impact on the financial position of the Group or require specific disclosure.

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M Cassar Company Secretary

16 May 2012