QE Index Developments Press Briefing

March, 2012

www.qe.com.qa

QE TOTAL RETURN INDEX LAUNCH APRIL 1ST, 2012

Description:

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QE index measures only price performance of component stocks. Qatar Exchange will calculate a total return version of the index that also reflects income received by way of dividend payments on the 20 stocks. The methodology reinvests the dividends in the index on the day a security is quoted ex dividend (day after the AGM).

A total return index represents the total return earned in a portfolio that tracks the underlying price index and reinvests dividend income in the overall index, not in the specific stock paying the dividend.

Factsheet

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Factsheet QE Index Total Return

Full name Qatar Exchange Index Total Return

Index Type Total Return Divisor Index

Index Governance Structure Qatar Exchange (QE)

Eligible stocks

Equity securities listed and available for trading on the Qatar Exchange for more than six months. QE index constituents must have recorded annual share velocity greater than 5% and have individual ‘limit holdings’ of no less than 1%

SelectionIndex consists of the top 20 company ranked by free-float market capitalization and daily average traded value

Number of constituents 20

Weighting

Capped Free-float market capitalization. A 15% cap is applied to an individual constituent’s weight in the index, with the excess weight distributed proportionately among the remaining index constituents (note that the 15% will take effect at next semi annual rebalance date – April 1st 2012)

Review of composition Semi-annual

Effective date of the review Rebalance is effective first trading day of April and October

Calculation frequency Real time

Base date January 3rd, 2007

Base level 7123.53

Historic data available since January 3rd, 2007

Derivatives and Linked products None

ISIN code  QA000A1MADH0

Mnemonic code  TBD

Bloomberg code  TBD

Reuters code  TBD

Launch date  April1st 2012

QE Index vs QE Total Return Index

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INDICATIVE

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ALL SHARE INDEX LAUNCH DATE: APRIL 1ST, 2012

Description:

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Qatar Exchange will also offer an ‘all share’ index that covers all listed stocks with share velocity greater than 1%. Velocity is the proportion of total shares that have changed hands in one year. The All Share index will act as an overall benchmark for the market, with over double the number of component stocks versus those included in the QE index.

The All Share will also act to support underlying sectors indices. Constituent stocks of the All Share index will be allocated to one of 7 industry sector indices. These indices will provide a framework that allows investors to perform real-time sector analysis.

Factsheet

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Factsheet QE All Share & Sectors

Full name Qatar Exchange All ShareIndex Type Total Return Divisor Index

Index Governance Structure Qatar Exchange (QE)

Eligible stocksEquity securities listed and available for trading on the Qatar Exchange for more than six months, with a annualised share velocity ratio greater than 1%

Selection Index consists of all eligible stocks.

Number of constituents Not capped

Weighting Free-float market capitalizationReview of composition Semi-annual

Effective date of the review Rebalance is effective 1st trading day of April and October

Calculation frequency Real time Base date  3rd January 2007

Base level 1,000

Historic data available since 3rd January 2007

Derivatives and Linked products None

ISIN code

All Share Index QA000A1MADJ6All Share Banks & Financial Services Index QA000A1MADK4

All Share Industrials Index QA000A1MADL2

All Share Transportation Index QA000A1MADM0

All Share Real Estate Index QA000A1MADN8

All Share Insurance Index QA000A1MADP3

All Share Telecoms Index QA000A1MADQ1All Share Consumer Goods & Services Index QA000A1MADR9

Mnemonic code  TBDBloomberg code  TBDReuters code  TBDLaunch date  April 1st 2012

All Share Index & Sectors (min velocity 1%)

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INDICATIVE

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All Share Index & Sectors (min velocity 1%)

QE stocks - weighting within respective sector

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Name Sector Weight in sector Weight in All Share Free Float Cap (Riyals)

QATAR NATIONAL BANK Banks & Financial Services 37.07% 19.17% 48,314,549,000MASRAF AL RAYAN Banks & Financial Services 16.01% 8.28% 20,862,435,000QATAR ISLAMIC BANK Banks & Financial Services 12.59% 6.51% 16,409,922,300COMMERCIAL BANK OF QATAR QSC Banks & Financial Services 12.21% 6.32% 15,918,225,876DOHA BANK QSC Banks & Financial Services 7.66% 3.96% 9,981,161,379QATAR INTERNATIONAL ISLAMIC Banks & Financial Services 4.94% 2.56% 6,443,768,052AL KHALIJI BANK Banks & Financial Services 4.73% 2.45% 6,170,898,000AL AHLI BANK Banks & Financial Services 3.19% 1.65% 4,159,837,668NATIONAL LEASING Banks & Financial Services 1.16% 0.60% 1,517,479,600DLALA HOLDING Banks & Financial Services 0.22% 0.11% 285,180,000QATAR & OMAN INVESTMENT CO Banks & Financial Services 0.15% 0.07% 189,000,000ISLAMIC HOLDING GROUP Banks & Financial Services 0.07% 0.04% 88,725,000

130,341,181,875

QATAR FUEL CO Consumer Goods & Services 57.45% 2.42% 6,107,360,000SALAM INTERNATIONAL INVESTME Consumer Goods & Services 11.79% 0.50% 1,253,015,089AL MEERA CONSUMER GOODS CO Consumer Goods & Services 10.50% 0.44% 1,116,629,000ZAD HOLDING CO Consumer Goods & Services 5.32% 0.22% 565,429,455MEDICARE GROUP Consumer Goods & Services 5.31% 0.22% 564,261,061QATAR MEAT & LIVESTOCK CO Consumer Goods & Services 5.01% 0.21% 532,850,500QATAR CINEMA & FILM DISTRIB Consumer Goods & Services 3.84% 0.16% 408,242,532QATAR GERMAN CO FOR MEDICAL Consumer Goods & Services 0.77% 0.03% 82,078,920

10,629,866,557

INDUSTRIES QATAR Industrials 41.30% 8.71% 21,945,000,000QATAR ELECTRICITY & WATER CO Industrials 20.70% 4.36% 11,000,480,000AAMAL CO Industrials 14.81% 3.12% 7,868,592,000MANNAI CORPORATION Industrials 6.35% 1.34% 3,371,385,600QATAR NATIONAL CEMENT CO Industrials 5.88% 1.24% 3,121,654,704GULF INTERNATIONAL SERVICES Industrials 4.25% 0.90% 2,256,341,199QATAR INDUSTRIAL MANUFACTUR Industrials 3.38% 0.71% 1,796,640,000AL-KHALIJ HOLDING CO Industrials 3.34% 0.70% 1,772,514,525

53,132,608,028

INDICATIV

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All Share Index & Sectors (min velocity 1%)

Name Sector Weight in sector Weight in All Share Free Float Cap (Riyals)

QATAR INSURANCE CO Insurance 54.40% 1.96% 4,951,294,384QATAR GENERAL INSURANCE & RE Insurance 24.97% 0.90% 2,272,901,621QATAR ISLAMIC INSURANCE Insurance 8.62% 0.31% 784,875,000AL KHALEEJ TAKAFUL GROUP Insurance 6.35% 0.23% 578,219,796DOHA INSURANCE CO Insurance 5.66% 0.20% 514,775,000

9,102,065,801

BARWA REAL ESTATE CO Real Estate 72.75% 4.62% 11,642,302,878UNITED DEVELOPMENT CO Real Estate 22.39% 1.42% 3,583,780,200MAZAYA QATAR REAL ESTATE DEV Real Estate 4.86% 0.31% 777,876,000

16,003,959,078

QATAR TELECOM (QTEL) Q.S.C Telecoms 81.37% 4.42% 11,147,840,141VODAFONE QATAR Telecoms 18.63% 1.01% 2,553,108,000

13,700,948,141

QATAR GAS TRANSPORT(NAKILAT) Transportation 50.64% 3.84% 9,684,781,000QATAR NAVIGATION Transportation 41.69% 3.16% 7,972,924,554GULF WAREHOUSING COMPANY Transportation 7.67% 0.58% 1,466,464,524

19,124,170,078

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35 of the 42 listed companies paid or have dividends in 2011. To highlight the depth of market and yields available, the All Share’s primary calculation method will be total return. Historical data available back to 2007. Existing sectors based upon QE index components to be phased out during 2012

INDICATIVE

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All Share Index & Sectors (min velocity 1%) – Total Return

All Share & Sector performance Jan 2007 to December 2011. Total Return 12

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METHODOLOGY CHANGES EFFECTIVE APRIL 1ST, 2012

Description:

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QE index measures the 20 largest and most liquid stocks in the Qatar market. On the first trading day of April and October the index is rebalanced, determining whether existing constituents continue to fulfill index criteria.

All listed companies are ranked by giving free float market capitalization a 50% weight (or consideration) and average daily value traded also 50% weight. Companies with velocity less than 5% are excluded from the review, as are companies whereby a single shareholder can only own less than 1% of outstanding shares. The 20 constituents of the QE index for the following 6 months are determined. A 15% cap is applied to an individual constituent’s weight in the index, with the excess weight distributed proportionately among the remaining index constituents.

Methodology Changes:

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Add following sentence to Article 6.3 - Index Weight Capping – A 15% cap is applied to an individual constituent’s weight in the index, with the excess weight distributed proportionately among the remaining index constituents. In such cases, the fixing of shares figures takes place only at rebalance dates.

Amend Article 6.1 of the Index Methodology to read: The index is reconstituted semi-annually on the first trading day of April and October based on a twelve month observation ending last trading day respectively in February and August.

Add following sentences to Article 6.2: Selection of constituents – If any number of constituents were to score equally using the two factors described above, then a third factor of annual velocity would be used to choose the qualifying constituents in the index.

Indicative QE Index rebalance – maximum weight of any component capped at 15%

Symbol Free Float Cap Initial Weight Free Float Cap QNB capped Capped Weight

QNBK 45,008,816,700 21.98% 28,382,550,611 15.00%IQCD 20,559,000,000 10.04% 20,776,322,868 10.98%MARK 18,053,310,000 8.82% 18,220,831,265 9.63%QIBK 15,670,210,500 7.65% 15,796,383,943 8.35%CBQK 15,368,668,078 7.50% 15,490,027,446 8.19%QTEL 11,488,292,645 5.61% 11,556,070,441 6.11%BRES 11,409,068,096 5.57% 11,475,913,604 6.07%QEWS 10,377,960,000 5.07% 10,433,261,421 5.51%QGTS 9,623,940,000 4.70% 9,671,492,633 5.11%DHBK 9,389,454,464 4.58% 9,434,716,693 4.99%QNNS 8,431,497,992 4.12% 8,467,990,978 4.48%KCBK 6,181,680,000 3.02% 6,201,290,250 3.28%QIIK 5,906,787,381 2.88% 5,924,691,663 3.13%QATI 5,104,427,200 2.49% 5,117,796,295 2.71%UDCD 2,926,461,038 1.43% 2,930,854,106 1.55%VFQS 2,607,213,600 1.27% 2,610,700,322 1.38%GISS 2,421,900,826 1.18% 2,424,909,437 1.28%KHCD 1,748,233,504 0.85% 1,749,801,025 0.92%NLCS 1,318,915,780 0.64% 1,319,807,901 0.70%SIIS 1,193,842,048 0.58% 1,194,572,979 0.63%

At each review period a components weight is capped at 15%. Any excess weight is distributed proportionately amongst other members. Between review periods weights may fluctuate with price performance. Corporate action ratios are applied to the number of shares established at the review period.

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Data shown is from Oct 2011 review

INDICATIV

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Overall effect of 15% cap on QE Index

No major impact on the performance of the indexBased on a 15% cap applied to scheduled rebalance of 2010 (Sept 30 th) the capped QE index finishes 2011 at 8742.6 vs QE Index at 8755.69