16 June 2009

The Board of Directors of Rasmala Investments announced today the appointment of Mr. Ali al Shihabi as the Executive Chairman of the Board. Mr. al Shihabi the founder of Rasmala has held the post of Chief Executive Officer since the inception of Rasmala.

The Board also announced the appointment of Mr. Tamer Bazzari as the Chief Executive Officer and Mr. David Woods as the Chief Operating Officer of Rasmala.

Mr. Bazzari previously held the post of Deputy Chief Executive Officer having also served as the Head of Investment Banking and as the Chief Financial Officer of Rasmala.

Mr. Woods comes to Rasmala having previously held the position of Chief Operating Officer of ABN-AMRO (Middle East). Prior to this he held the positions of Chief Executive Officer of ABN-AMRO Securities (USA) and Chief Executive Officer of Alfred Berg Securities, a leading securities firm in Scandinavia.