Arab Financial Services joins PCI Security Standards Council as newest Participating Organization

— AFS to participate in key standards setting body protecting payment cardholder data —

Manama - December 2, 2007

(AFS) Arab Financial Services, the region's leading provider of electronic-payments and consumer-finance outsourcing services, announced today that it has joined the PCI Security Standards Council as a new participating organization. As a Participating Organization, AFS will work with the Council to evolve the PCI Data Security Standard (DSS) and other payment card data protection standards.

The PCI DSS, endorsed by American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa Inc., requires merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data integrity. More information on the council and the standards can be found at www.pcisecuritystandards.org.

Shankar Sharma, CEO of AFS said “It is one of the major steps we at AFS are taking towards enhancing the high quality of service we provide to our customers and are very committed to play an active role with the PCI Security Standards Council in increasing the existing data security standards and its awareness in the industry.”

"As a PCI Security Standards Council Participating Organization, AFS is playing a key role in helping protect cardholder data," said Bob Russo, General Manager, PCI Security Standards Council. "Data security is an increasingly important component of any business plan and we are delighted to welcome those organizations dedicated to card payment security."

As a Participating Organization, AFS will now have access to the latest payment card security standards from the Council, be able to provide feedback on the standards and become part of a growing community that now includes more than 345 organizations. In an era of increasingly sophisticated attacks on systems, adhering to the PCI DSS represents an entity’s best protection against data criminals. By joining as a Participating Organization, AFS is adding its voice to the process.

About PCI Security Standards Council

The mission of the PCI Security Standards Council is to enhance payment account security by fostering broad adoption of PCI security standards. For more information, please visit www.pcisecuritystandards.org