Dubai, June 11, 2007 – Rasmala Investments announced in Dubai yesterday the successful wind up of the Rasmala Private Equity Fund 1, a fund launched in the year 2000 with the objective of investing in the financial services sector in the GCC.

“We returned to investors over 3 times their capital in just over 6 years, equating to an annual return (IRR) of 22% per annum” commented Ali al Shihabi, Founder and CEO of Rasmala Investments. “This achievement over a prolonged period of tremendous volatility in regional markets and in an asset class that had hardly existed in this region before the launch of this Fund is something Rasmala is justifiably proud of” said al Shihabi.

Having established, managed and successfully paid off, probably, the first formal Private Equity Fund targeting the GCC, Rasmala is one of the pioneers of this asset class in the region.

“This has given us practical insight and experience which we will bring to bear in our private equity activities going forward” said al Shihabi.

“The GCC economies are experiencing tremendous growth, the markets are continuing to open up to foreign investment and regulatory reform is progressing. This environment will provide Rasmala with the opportunity to play an ever increasing role in Private Equity by restructuring businesses to maximize shareholder value or helping companies to build scale to withstand upcoming regional and global competitors. Rasmala will continue to undertake private equity transactions on a deal-by-deal basis, and is also planning to launch, by year end, two sector focused Private Equity funds, in partnership with prominent regional industry operators” announced al Shihabi.

Rasmala Investments, a Dubai based Investment Bank, currently manages eight Funds in regional and global markets. Its activities include Investment Banking, Private Equity, Asset Management and Brokerage. Rasmala has operating subsidiaries in Riyadh and London.