PRESS RELEASE

CTL Breaks New Ground with National Bank of Dubai  

London, July 28, 2005 National Bank of Dubai (NBD), announces the successful launch of its M/Chip and VSDC acquiring processing facility with the help of Card Tech Limited (CTL), a leading UK-based bankcard systems provider. This successful implementation, not only secures NBD's leading status as the first M/Chip acquirer in the United Arab Emirates (UAE), but also marks CTL's first M/Chip implementation in the region.

NBD, one of the leading banks in the UAE, is the first among many to complete the EMV certification process for Visa and MasterCard. Having completed the process, the bank can move forward and process live M/Chip transactions using CTL's ONLINE - the world's first complete real-time authorization and message switching system.

Sue Evans, Head of Information Systems & Technology at NBD, said “We are pleased to be one of the first card acquirers in the Gulf to have successfully implemented MasterCard Chip acquiring services, and this is largely due to the substantial support we have received from Card Tech Limited.”

CTL and NBD's relationship dates back to the early 1990s. The bank uses CTL solutions to support its cards business. Over the years, CTL's solutions have evolved to support all current and emerging industry standards, and NBD's migration to EMV compliance posed no obstacle.

Edith Kessler-Charalambous, General Manager-Business Account Management at CTL, said "We are delighted to support NBD's implementation of M/Chip acquiring services, helping it to achieve success as one of the first banks in the Gulf and the first bank in the UAE to be M/Chip compliant. CTL benefits from a history of delivering projects within deadlines and we were happy to assist NBD meet theirs."

Abdulfattah Sharaf, Head of Cards Business at NBD, said 'NBD has once again proven its position as an innovative player in the UAE Market. He added 'This achievement demonstrates our commitment to our customers to provide a comprehensive product suite based on the latest technologies, and supports NBD's business objectives to provide added value and a world class service to all its clients.'

NBD's latest accomplishment is one in a series which supports its reputation as a market leader for acquiring card business in the UAE. Previous successes include: winning the MasterCard Data Integrity Award for demonstrating a high level of data integrity in an international market, and being voted Best Bank in the UAE by Global Finance Magazine for three consecutive years.

About Card Tech Limited

Card Tech Limited has been providing payment association certified solutions to the bankcard sector since 1989.

More than 170 banking clients from 70 countries use CTL systems.

CTL solutions and processing service include card issuance, merchant acquiring, authorisation, message switching, encryption key and PIN management, e-commerce and fraud management. They address every aspect of the card management business cycle, and are developed and supported by a dedicated team of over 300 CTL specialists from five regional offices in London, Nicosia, Moscow, Kuala Lumpur and Dubai.