Further to their joint announcement on May 15, 2012, Bank Audi sal - Audi Saradar Group and Saham Finances sa jointly announce that they completed the sale by Bank Audi and certain individual sellers of 81% of the share capital of LIA insurance sal on June 27, 2012, within the expected timeframe after receipt of the required regulatory approvals. The parties have agreed to maintain and develop the existing cooperation between Bank Audi sal - Audi Saradar Group and LIA insurance sal in the field of bancassurance in Lebanon.

Saham Finances sa, which intends to use Lebanon as its main hub to support its expansion strategy in the Middle East, will rely on the skills of the Management team of LIA insurance sal which will remain in place.