Shuaa Capital shareholders approve 45% cash dividend

Notes and media contacts

Agendas put forward to shareholders at both the Ordinary and Extraordinary Assembly:

Agenda for the Extraordinary General Assembly

1. Approve the amendment of article (7) of the Company's Articles of Association to add the following: 'GCC nationals will be treated as UAE nationals in relation to owning, dealing with and disposing of shares of the Company.'

2. Approve the delisting of Shuaa Capital's shares on the Kuwait Stock Exchange.

3. Approve the amendment of Article (19) (1) of the Company's Articles of Association as follows: 'The Company shall be managed by a Board of Directors comprised of a minimum of 9 members and a maximum of 12 members to be elected by an ordinary general meeting by secret ballot.'

4. Authorize the Board of Directors to take a final decision to amend Article (51) of the Company's Articles of Association to change the financial year to begin on January 1st and end on December 31st of each year, subject to receiving the consent of the Central Bank.

Agenda for the Ordinary General Assembly

1. Review and approve the report of the Board of Directors and the report of the Auditors for the financial year ending 31 March 2008.

2. Discuss and approve the Company's balance sheet and profit and loss statement for the financial year ending 31 March 2008.

3. Release the Board of Directors and Auditors from liability for the financial year ended 31 March 2008.

4. Appoint the Auditors for the financial year ending 31 March 2009 and determine their remuneration.

5. Ratify the appointment of a member of the board of directors.

6. Approve the distribution of a cash dividend of 45% of the nominal value of shares, corresponding to AED 0.45 per share, provided that the right to receive dividends shall accrue to the owners of shares on the trading day of 25 June 2008 (settlement date 29 June 2008).

7. Approve the remuneration of the Board of Directors for the financial year ending 31 March 2008.

About Shuaa Capital psc:

Shuaa Capital psc maintains a leadership position in Investment Banking, Asset Management, Brokerage, Private Equity, Finance, Principal Investments and Research.

Headquartered in Dubai, in the United Arab Emirates, Shuaa Capital has a regional presence with offices in Abu Dhabi, Riyadh, Doha, Cairo, Beirut and Istanbul.

Embedded in the dynamic economic environment of the Gulf Cooperation Council (GCC), Shuaa Capital provides a broad range of financial services to corporations, governments, institutional clients, and high net worth individuals.

Since 1979, Shuaa Capital has played a prominent role in shaping the financial services landscape of the GCC and will continue to be at the vanguard of regional integration into global financial markets.

For further information contact:

Oliver C. Schutzmann
Head of Investor Relations

SHUAA CAPITAL psc
Level 2, West Wing, The Gate Building
Dubai International Financial Center
P.O. Box 31045, Dubai - UAE
Tel: +971 4 3651 872
Fax: +971 4 3303 550
Mob: +971 505442078