Dubai, 9th March, 2008

Rasmala Investments has been awarded the “Best New Fund” at the Hedge Funds World Middle East Awards, 2008 – the most coveted prize for the Hedge fund industry in the Middle East.

Mr. Khaled Masri, Partner at Rasmala said: "We are delighted to have received this award for our Rasmala MENA Equity Fund of Funds pioneered by Rasmala in 2006 and the ground-breaking alternative investment vehicle targeting the MENA public equity markets We are very pleased that we have been recognised for excellence in our fund management approach to regional markets and are proud to be at the forefront of the rapidly developing asset management industry in the MENA region. Our fund management approach is unique in terms of the pan-MENA asset allocation process and manager selection and monitoring process. This approach has become increasingly relevant in our region given its young fund management industry that is experiencing tremendous growth with all the risks and opportunities that this exciting environment entails.

Rasmala manages eleven funds in global and regional public markets and will extend its product range by launching a Rasmala Egypt Equity Fund in the very near future.  Mr. Khaled Masri continued: “Egypt is an important market, along with the UAE and Saudi Arabia – the three biggest economies in the Arab World. Our fund management and asset allocation methodologies, along with our on the ground presence in these key MENA markets, will serve our investors well in accessing this increasingly important emerging market block”