Beirut, January 27, 2009: After the success of the Beirut Lira Fund, matured in December 2008 with great performance, Bank of Beirut announced the launching of its new investment fund, the “Beirut Lira Fund II”. The announcement came during a press conference organized for the occasion on January 27, 2009 at the Vendome Intercontinental, Beirut. The newly launched “Beirut Lira Fund II”, denominated in Lebanese Pounds, gives investors the opportunity to be on solid grounds by investing in our national currency at low risk and expected high return.

In his opening speech, Mr. Salim Sfeir, Chairman General Manager of Bank of Beirut declared that: “Bank of Beirut is launching a new innovative investment fund that reflects its confidence in the country and its national currency and conveys its deep trust in Lebanon and its future. Bank of Beirut is the first and only bank in Lebanon to have put in place fixed income products and this kind of funds in the local market; and the “Beirut Lira Fund” is our confirmation that we are the most experienced fund manager for the Lebanese investors”.
He highlighted the success of Bank of Beirut in the Assets & Funds Management since 2000, when the first fund “Beirut Income Fund” was launched. “Our success was distinguished by extensive experience accrued over the years. The first fund was closed with 9.7% return in USD whereas the second fund in LBP closed with 13% return while interest rates at that time were much lower”. The “Beirut Income Fund” was followed by other successful funds namely, Beirut International Fund, Beirut Global Income, and Beirut Lira Fund.

From his side, Mr. Najib Semaan, Assistant General Manager – Treasury, Capital Markets and Correspondent Banking added that “our services aim at managing investment products in a prudent manner, yet achieving high return with very low risk and low volatility. Our funds address small and medium size investors and they are managed by the bank”. He confirmed that Bank of Beirut funds have been awarded 3 times for best performance by Zawya Fund’s Monitor. Moreover, with Bank of Beirut, investors can benefit from the Bank’s expertise in Assets and Funds Management, personalized service and dedicated professional team.

On the fund, Mrs. Mona Gabriel, Head of Assets & Funds Management, noted that the “Beirut Lira Fund II” is founded and managed by Bank of Beirut Invest s.a.l. with its assets placed in any fixed income financial instruments and securities, issued by the Lebanese Republic, the Central Bank of Lebanon and the top ten Lebanese Banks”. Those include a) Lebanese Treasury Bills denominated in Lebanese Pounds; b) Certificates of Deposit issued in Lebanese Pounds by the Central Bank of Lebanon; c) Any other fixed income instruments in Lebanese Pounds issued by the Lebanese Republic and/or the Central Bank of Lebanon; and d) Certificates of Deposit and any other fixed income instruments issued by the top ten Lebanese Banks.

It is to be noted that the “Beirut Lira Fund II” is an open-ended fund with a 5-year maturity. The initial build-up period of the fund starts on January 26, 2009 and ends on February 28, 2009.