Senior Addax Management meet with Turkish Prime Minister

Notes and media contacts

For further information, please contact:
Mona Akhtarzadeh
TEL: +973 17 535 246

About Addax Investment Bank

Addax Investment Bank has an authorised capital of US$100 million and is regulated by the Bahrain Monetary Agency (BMA). The Bank was formed in 2003 and has been involved in a number of high profile deals in the region.

Addax Investment Bank's landmark deals include: participation with Dubai International Capital and other lead investors in creating JD Capital, a US$300 million (approximately) company targeting investment opportunities in Jordan. Addax Investment Bank was also responsible for the structuring and placement of the US$ 150 million deal to finance 20 Express by Holiday Inn hotels across five countries in the GCC.

Additionally, Addax Investment Bank has launched a US$1 billion investment fund, the MENA Serviced Residence Fund, in collaboration with The Ascott Group of Singapore, to acquire and manage a chain of serviced residences throughout the Middle East and North Africa. The first phase of capital fund raising towards the US$ 1 billion MENA Serviced Residence Fund was successfully completed earlier this year; the private placement was well received by investors and was oversubscribed by 150% within record time.

Addax Investment Bank reported a consolidated net profit of US$3.2 million for the year ended 31 December 2005, an increase of 220% over the previous year.

Addax Investment Bank announced a consolidated net profit of US$3.4 million for the six-month period ended 30th June 2006, an increase of 170% over the previous year.

Addax Investment Bank reported record profits for the nine-month period ended 30th September 2006. Addax reported consolidated net profit of US$5.86 million for the said period, an increase of 132% over the previous year.

In September 2006 Addax Investment Bank formed its newest subsidiary, Addax Media. Addax Media, wholly owned by Addax Investment Bank will be a holding company that will focus on acquiring innovative, high-quality media productions ranging from full length movies to television serials. Addax Media's first production "Khalid Bin Waleed" was aired on MBC and Dubai Television.

In November 2006, Addax Investment Bank, launched Addax Education Holdings (AEH), a holding company based in the Kingdom of Bahrain, established in partnership with a team of education and private equity professionals to invest and manage education and education related businesses across the GCC, Levant and North Africa.

Addax is fast gaining a reputation for launching innovative and unique deals in the Middle East region.