Tamweel Funding Limited: $300,000,000 Trust Certificates due 2013 Exchangeable into shares of Tamweel PJSC

Tamweel Funding Limited announces that the exchange price of the $300,000,000 Trust Certificates due 2013 Exchangeable into shares of Tamweel PJSC issued by Tamweel Funding Limited on January 23, 2008 (the 'Exchangeable Sukuk') has been adjusted in accordance with the terms and conditions of the Exchangeable Sukuk.

United Arab Emirates: Monday, May 05 - 2008 at 14:39
PRESS RELEASE

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The exchange price of the Exchangeable Sukuk has been adjusted from $2.2711 per Share to $2.2021 per Share.

The adjusted exchange price has been calculated following the approval of a dividend of AED 0.218 per nominal share of Dhs1 by Tamweel's Annual General Meeting of Shareholders held on 31 March 2008.

The exchange price has been adjusted by the Obligor pursuant to conditions 6.5 (b) (v) of the terms and conditions of the Exchangeable Sukuk.

The adjusted exchange price is effective as of 9th April 2008, the ex-dividend date.

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About Tamweel PJSC:
Tamweel PJSC, the highest-rated non-banking financial institution in the region (rated A by Fitch and A3 by Moody's) is the largest provider of real estate finance in the UAE by market share and asset size. Tamweel was established in March 2004, became a public joint stock company in June 2006 and was listed on the Dubai Financial Market in July 2006.

Tamweel is a provider of a wide range of unparalleled customer-service solutions and innovative home finance products, working with 300 partners across the UAE. The company, which aims to become the regional home finance leader through its expansion plans into Saudi Arabia, Egypt and other countries in the MENA region, has branches in Dubai, Sharjah and Abu Dhabi, as well as in Saudi Arabia and Egypt. For more information, please visit www.tamweel.ae

For further information, please contact:
Nabil Abou Alwan
Head of Marketing & Product Development
Tamweel PJSC
Dubai, UAE
Tel: 971-4-2944400
Fax: 971-4-2944331

Nicholas Nesson / Sudha Hemmad / Gunjan Chaurasia
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-4-335969
Fax: 971-4-3356080

Posted by Lara Lynn Golden, News Editor
Monday, May 05 - 2008 at 14:39 UAE local time (GMT+4)

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