Midclear’s Current Status Chairman – General Manager MIDCLEAR S.A.L. AMEDA’s 11th Meeting April 28-29, 2010 Beirut - Lebanon Midclear’s Current Status and Future Developments Fouad El Khoury Chairman – General Manager

MIDCLEAR S.A.L CUSTODIAN AND CLEARING CENTER OF FINANCIAL INSTRUMENTS FOR LEBANON AND THE MIDDLE EAST ESTABLISHED JUNE 1994 JOINT STOCK COMPANY CENTRAL DEPOSITORY BY LAW NO 139 - OCTOBER 1999 CENTRAL REGISTRAR FOR BANKS SHARES BY LAW No 308 DATED APRIL, 2001 CAPITAL 2,800,000,000 LBP MAJOR SHAREHOLDERS BANQUE DU LIBAN (99.8%) PARTICIPANTS LOCAL AND FOREIGN BANKS LOCAL & FOREIGN FINANCIAL INSTITUTIONS FOREIGN CSDs, CLEARING HOUSES, AND ISSUERS.

PRODUCTS AND SERVICES Using SWIFT ISO 15022 extensively New ISO 20022 in the medium Term 1- Clearing and Settlement of Domestic Financial Instruments T+3 DVP/RVP- cash settlement with central Bank. Future developments New payment system (awaiting Central Bank RTGS). Securities lending and borrowing law Dematerialization Law. Guarantee fund. Law establishing Financial Market Authority. 2- Clearing and Settlement of Foreign Transactions Use of Euclid (Euroclear) and Creation on line (Clearstream) and SWIFT for clearing and settling instruments on most of the markets outside Lebanon.

PRODUCTS AND SERVICES 3- Shareholders Registration Processing Initial Public Offering (IPO) 4- Custody Services Partly Physical Partly Electronic 5- Administration of Securities All kind of corporate actions on local and foreign markets. 6- Administration of Mutal Funds Automation through a program developed with Path Solution Company. Formalities in process to register Midclear as a fund administrator with Cayman Islands Authorities. Thank you…