The Bank of New York Mellon Appointed Depositary Bank by GB Auto

NEW YORK, June 1 -- The Bank of New York Mellon , the global leader in asset management and securities servicing, has been selected by GB Auto S.A.E. as the depositary bank for its Global depositary receipt (GDR) program. Each GB Auto GDR represents five ordinary shares. The GDRs trade on the over-the-counter (OTC) market. GB Auto's ordinary shares trade on the Egyptian Exchange (EGX) under the symbol "AUTO."

GB Auto is an automotive assembler and distributor in the Middle East and North Africa. Based in Cairo, the company assembles, imports and distributes passenger cars under the Hyundai brand, as well as commercial vehicles (buses, trucks and trailers) under the Volvo, Mitsubishi, Hyundai and Ghabbour brands. GB Auto is also a distributor of motorcycles and scooters, offers a full line of global brand-name construction equipment, and operates Egypt's largest network of automotive sales and service centers.

"Our new GDR program is an important component of our ongoing effort to become even more accessible to global investors," said GB Auto Chief Executive Officer Dr. Raouf Ghabbour. "We are very pleased to be working with The Bank of New York Mellon as depositary, allowing international investors to trade GB Auto shares on the OTC markets."

"As the leading depositary bank in the Middle East and Egypt, we are very pleased to be partnering with such a significant presence in the Middle East and North Africa's automotive world, further strengthening that region's ties with world markets," said Michael Cole-Fontayn, chief executive officer of The Bank of New York Mellon's Depositary Receipt Division. "We look forward to applying our expertise to help GB Auto develop strategic outreach initiatives designed to broaden its international shareholder base."