Addax Investment Bank announces 50% completion of education capital private placement

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 since its inception.

Addax Investment Bank's landmark deals include: a US $150 million portfolio to launch 20 "Holiday Inn Express" hotels across the GCC; and participation with Dubai International Capital and other leading investors in founding JD Capital, a US $300 million company targeting investment opportunities in Jordan.

Additionally, Addax Investment Bank has launched a US$1 billion investment fund, the MENA Serviced Residence Fund, in collaboration with The Ascot Group of Singapore, to acquire and manage a chain of serviced residences throughout the Middle East and North Africa. The first phase of capital fund raising towards the US$ 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 same period in the previous year.

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

About Jordanian Al Theqa Investment Company, JordInvest:

Jordanian Al Theqa Investment Company, JordInvest, was established in 1998 and its head office is based in Amman. JordInvest is the first Jordanian public holding company that provides integrated and diversified financial and banking services to customers locally and regionally.

Such services include: issuance of bonds, restructuring of companies, financial advice and relevant asset management. JordInvest adheres to the social responsibility standards, confidentiality, fairness in application and high quality customer service.

JordInvest seeks to be a highly knowledgeable and expert organization in capital markets, local and regional economic activities to provide high profile and successful investment opportunities to its customers.