Rating highlights strong performance track record and value-adding asset allocation

Dubai, United Arab Emirates, June 9th, 2008

The Rasmala MENA Equity Opportunity Fund (the “Fund”), managed by leading regional investment bank Rasmala , has been granted a “AA” rating by the world’s leading provider of independent credit ratings, indices, risk evaluation, data and valuations, Standard and Poor’s.

The Fund is a fund-of-funds that uses a dynamic multi-manager, multi-country and multi-strategy approach to invest in the MENA equity markets. Since its inception in August 2006 it has generated an annualized return of 30.6 per cent compared with a return of 15.63 per cent for the MSCI Arabian Markets Index.

Standard & Poor’s report highlights that the Fund management team” has produced a strong track record in comparison to both peers and the MSCI Arabian benchmark”. It further states that ” in volatile markets it has been able to add value from asset allocation, while fund selection has been positive, risk-adjusted returns have also been strong”

Khaled Masri, Partner at Rasmala and Manager of the Fund, said: “As pioneers of the fund-of-funds structure for MENA equities, the rating upholds our position as the leading regional manager-of-managers. The Fund offers investors the means to access profitable opportunities in the MENA equity markets through a top down strategic and geographic allocation with equity fund selection”.

Rasmala launched its first fund-of-funds in 2005 and currently manages eight global and regional funds focused on equities, real estate and alternative investment.