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21% of SHUAA shares open to foreign investors

United Arab Emirates: Tuesday, July 15 - 2008 at 07:56
PRESS RELEASE

SHUAA Capital, the leading financial services institution in the GCC, today announces that it has received approval from the Emirates Securities and Commodities Authority, the Ministry of Economy and the Dubai Financial Market to change its articles of association so that "GCC nationals will be treated as UAE nationals in relation to owning, dealing with and disposing of shares of the Company."

Mr. Iyad Duwaji, Chief Executive Officer of SHUAA Capital said: "With mounting interest in GCC capital markets, international investors increasingly see SHUAA as a proxy for the opportunities that the GCC represent. They recognize the strong fundamental growth story of the financial sector and the reward it will create. This approval opens the door further for existing and potential investors from GCC countries and international markets to buy SHUAA Capital's shares. We look forward to strengthening the bond and long term relations with all our shareholders."

Mr. Oliver Schutzmann, Head of Investor Relations of SHUAA Capital commented:

"With immediate effect, this approval frees up 21% of SHUAA Capital's shares to international investors who have been trying to buy our stock for some time. It comes in line with our goal to facilitate easy access to our shares and further diversify our shareholder base."

Shareholders had already agreed to amend the Company's articles of association allowing GCC nationals to be treated as UAE nationals at the recent Extraordinary General Assembly held on 17 June 2008.

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» SHUAA Capital company profile

Related site: http://www.shuaacapital.com

Notes and media contacts

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

About SHUAA Capital

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.

Posted by Anne-Birte Stensgaard, Senior News Editor
Tuesday, July 15 - 2008 at 07:56 UAE local time (GMT+4)

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21% of SHUAA shares open to foreign investors

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