Declaration of the Lebanese Canadian Bank

    MONTREAL, July 10 /CNW Telbec/ - In response to news reports in Canada
that a legal action was filed against Lebanese Canadian Bank in the Quebec
Superior Court, the Chairman-General Manager of Lebanese Canadian Bank,
Georges Zard Abou Jaoude, has stated that:

    - the action against Lebanese Canadian Bank is part of an overall scheme,
      which includes the simultaneous and coordinated filing in New York of
      other legal actions against other banks in Lebanon, directed at the
      Lebanese banking sector to attempt to discredit the sector;
    - Lebanese Canadian Bank is in full compliance with Lebanese and
      international anti-money laundering and terrorist financing
    - Lebanese Canadian Bank has nothing whatever to do with any political or
      military activity in Lebanon or elsewhere, including the financing of
      any such activity;
    - Lebanese Canadian Bank intends to vigorously defend itself against the
      unfounded allegations affecting it and urges the Canadian media to use
      caution and common sense before publishing stories relating to the

For further information:

For further information: Tina Al-Hattouni, (514) 871-3999

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