United International Bank (UIB), International Leasing and Investment Company (ILIC) and Novus Aviation host investor conference

The invitation was communicated at a luncheon at the Sheraton Hotel Bahrain on April 21, 2008.

Mr. Abdulla Janahi, Manager and Acting Chief Executive Officer of UIB announced the details for FALAK's road show indicating that they will be in Dubai on April 22, 2008 at Al Murooj Rotana Hotel, in Kuwait on April 23, 2008 at J.W. Marriott Hotel and in Qatar on April 24, 2008 at Inter-Continental Hotel.

United International Bank (UIB) is a Bahrain based investment bank with an authorized share capital of $2.5bn and a paid-up capital of $291m. The Bank started operations in the fourth quarter of 2006 and provides investment banking products and services in strict adherence to Islamic rules and principles.

Established in 2007 as a joint venture between United International Bank (UIB) and Muzun Partner Ltd. (a company related to Novus Aviation), FALAK is co-sponsored by International Leasing and Investment Company (ILIC) and backed by several GCC financial institutions including First Leasing Bank.
Falak is targeting a total fund size of $150m. FALAK's current portfolio comprises of 11 aircraft with a capital of $120m. The strength of its portfolio lies in the fact that it is well diversified with various aircraft types leased to different quality airlines across the globe. Return on investment achieved in 2007 was in excess of 12%.

FALAK plans to continuously develop its portfolio and expand its aircraft acquisitions and leasing activities, with an extensive search for attractive assets and quality airline lessees. Other high quality transactions are being contemplated to supplement the existing portfolio, benefiting from the current environment of healthy growth of the aviation industry worldwide and particularly in the Middle East.

Air traffic in the Middle East is one of the fastest growing in the world with passenger traffic forecasted to grow by over 6% per annum over the next 20 years.

Mr. Janahi stated "UIB is one of the major investors along with ILIC, the co-sponsor of the Fund, and Muzun Partner Ltd. as a strategic investor. He explained that UIB's investment strategy focuses on providing attractive opportunities to its customer base. Mr. Janahi continued, "FALAK fund's attractiveness stems from the fact that the assets of the fund already exist and are producing income and that the cash flow is stable and reliable."

Mr. Janahi continued, "We are keen to invite all institutional and individual investors in the Gulf to invest in this attractive opportunity by offering them the PPM and the subscription documents required to invest in the Fund."

Mr. Safwan Kuzbari, CEO of Novus Aviation, explained that the aviation industry is expected to witness major growth over the next few years. Falak's investment is backed by strong assets most of which are in severe shortage in today's market with manufacturers not having available slots before early to mid next decade.

With over 30 years of global experience in the aviation industry, Novus Aviation acts as FALAK's asset and aircraft portfolio manager. This experience covers different segments of commercial jet aircraft business including trading, leasing, financing, management and remarketing. Currently, Novus' co-owned and managed portfolio has an aggregate value in excess of $1bn and comprises modern Airbus and Boeing aircraft types