Guaranty Trust Bank plc

UK subsidiary granted FSA approval

Guaranty Trust Bank plc, ("GTBank"), one of Nigeria's leading banks, announced today that its United Kingdom subsidiary, GTB UK Ltd ("GTB UK"), has been authorised by the UK's Financial Services Authority to operate as a full fledged commercial bank; offering corporate and retail banking services, in the UK.

The subsidiary is based in Margaret Street in Central London and marks the Group's first operation in Europe. It will focus on quality business where there are already established links between Nigeria and the other countries where GTBank operates, including Gambia and Sierra Leone, and the UK. The subsidiary will provide banking services such as receiving deposits, and writing mortgages for both commercial and retail customers as well as intermediates.

Tayo Aderinokun, Managing Director of the GTBank, commented: "We are very pleased to be making our first step into Europe with the opening of GTB UK. We are confident many of our clients will welcome the opportunity to bank with us in London, and we are excited about developing further business relationships through our UK subsidiary."

12 March 2008