May 12, 2007

Rasmala, One of the leading regional investment bank based in Dubai International Financial Center, announces the appointment of Mr. Hamad Mubarak Al Huthaili as the General Manager of its subsidiary Rasmala Saudi Arabia. This announcement comes after Rasmala has been licensed by Saudi Capital Market Authority and approved by the Ministry of Commerce to establish Rasmala Investments (Saudi) Ltd.

Commenting on the appointment, Mr. Ali Samir al Shihabi, Founder and CEO of Rasmala, said: “Saudi Arabia is the largest and most important capital market in the region and the key market for Rasmala. We are proud to have Mr. Al Huthaili in our team. With his extensive knowledge and experience as a renowned banker in the Kingdom, Mr. Al Huthaili will contribute to the development and activation of our operations in Saudi Arabia”. “

“The continuous development of our operations, the establishment of Rasmala Saudi, and the appointment of Mr. Al Huthaili will help us directly meet the requirements of our clients in Saudi Arabia. We will also be able to establish constant and direct conctact with the clients to allow them effectively benefit from our distinctive services. Rasmala’s services are of international standards with comprehensive view and understanding of the environments of our unique region since we belong to this region”. Mr. Al Shihabi added.

Before joining Rasmala, Mr. Al Huthaili had been working at Saudi Hollandi Bank since 1990 before he was finally appointed as a General Manger in the bank since 2003. During his work at the bank, he helped promoting the bank’s operations and establishing strong relationships with both individual and corporate investors. He also contributed to the bank’s strategy to strengthen relationships with Saudi State Authorities, oil and utilities corporations. In addition, Mr. Al Huthaili helped developing the bank’s relationships with the international financial institutions.

Mr. Al Huthaili holds a Masters degree from Saint Thomas University in Marketing and Financial Management since 1984. He also holds a degree in Accounting from Saint Paul University in the USA.

Mr. Al Huthaili began his banking career in 1984 by joining the Saudi Monetary Agency for 4 years. He then worked for the Saudi Al Mawarid Group until 1990.

On his part, Mr. Al Huthaili said: “Joining Rasmala is an important turn in my financial expertise especially that I will be responsible for launching our operations in Saudi Arabia, the largest and most important market in the region. I will be working on building a young and dynamic cadre who enjoys the best expertise to work together in coordination with Rasmala’s team in Dubai to maintain a distinctive position on the region’s map of investment banks”.

Rasmala focuses on Asset Management and Investment Banking. The Asset Management team manages and structures portfolios across all major asset classes, particularly hedge funds, equity, and real estate funds in Arab and Global markets. Where as, the Investment Banking team sources and structures the regional investment opportunities in direct investment and real estate across the Arab region. It also offers consultation for mergers and acquisitions.

Rasmala Investment Ltd has recently been licensed from the Saudi Capital Market Authority and the Ministry of Trade in Riyadh. License no. 1010230919