Dubai International Capital acquires 45% stake in KEF Holding

Notes and media contacts

About Dubai International Capital LLC:

Established in 2004, DIC is an international investment company with offices in Dubai and London focused on both private equity and public equity. A wholly-owned subsidiary of Dubai Holding, DIC manages an international portfolio of diverse assets that provide its stakeholders with value growth, diversification, and strategic investments. Assets under management total over $13bn. DIC focuses on three asset classes:

1. DIC Private Equity: invests mainly in secondary buyouts in developed markets where it backs strong existing management teams over a medium to long time horizon. DIC PE has acquired businesses in a range of sectors in Europe and North America including:
- UK leisure company Tussauds Group for £800m (later merged with Merlin Entertainment Group to create the world's second largest visitor attractions; DIC retains a 20% stake)
- UK engineering company Doncasters for £700m
- US engineering company FastenTech for $492m (later merged Doncasters with Fastentech creating world leader in turbine manufacture)
- UK hotel chain Travelodge for £675m,
- German industrial packaging manufacturer Mauser for €850m
- UK healthcare company Alliance Medical for £600m
- German producer of specialty alumina Almatis for $1.2bn

2. DIC Global Equities: makes structured investments in large-cap, Fortune 500 global equities, that are forecast to deliver above average returns over the long term, either directly or via DIC's $2bn Global Strategic Equities Fund (GSEF). The GSEF has acquired substantial stakes in HSBC, EADS, and Sony Corporation. DIC has also directly invested in the Indian financial services firm ICICI Bank (2.96%) and Och-Ziff (9.9%) an alternative asset management firm based in New York.

3. DIC Emerging Markets: invests in a range of asset classes in emerging markets.
- Equity investments: include significant stakes in the UAE-based luxury retailer Rivoli Group and Singapore-based True Group, a leading provider of wellness services in South East Asia, in addition to a $200m investment in Oger Telecom, a leading regional telecom conglomerate.
- Sector / country-specific investment funds: DIC has established several such as Ishraq, a $150m investment company bringing the Holiday Inn Express brand to the Middle East; the $500m MENA Infrastructure Fund, which invests in infrastructure projects in the Middle East and North Africa, and Jordan Dubai Capital, a $300m investment company that targets private equity opportunities in Jordan and most recently China Dubai Capital, a $1bn fund that will target opportunities in China's growing economy.

DIC was named MENA Private Equity Firm of the Year in the 6th annual Awards for Excellence in Private Equity Europe 2008, organised by Dow Jones Private Equity News.

About KEF Holding:

KEF Holding is the holding company of Emirates Techno Casting (ETC) and JC Middle East (JCME) based in the Sharjah Hamriya Free Zone. ETC is the flagship business of KEF Holding. ETC manufacturers precision steel castings utilising cutting-edge technology and engineering ingenuity and distributes its products to the leading market players within the oil and gas, chemical, mining, industrial, and chemical industries located in the Middle East, Asia, Europe, and the United States.

Since its establishment in 1997 by Faizal E. Kottikollon, ETC has enjoyed an impressive track record of growth, averaging a growth rate of 60% over the past 3 years. ETC began with one steel foundry in 1997 and now boasts three steel foundries with the production capacity of 36,000 tonnes per annum. In addition, ETC is one of the world's few foundries utilising the Vacuum Argon Oxygen Decarburising Furnace, allowing it to create special alloys which further enhance its ability to provide highly technical and customised products.

Its core values of Quality and Excellence earned it the distinction of the Best Foundry in the World, awarded in 2007 by Weird Clear Liquid, a division of Weir Group. The company's dedication to these core values has given ETC the ability to rival Europe's leading established foundries in terms of efficiency and production.

JCME is the regional office of JC Fabrica with exclusive distribution rights of branded commodity valves to the Middle East and Indian Subcontinent.

As part of its commitment to its staff, KEF Holding has built a Community Center on-site to provide educational and healthcare enrichment programs.

For further information please contact:

Kholoud Arif
Senior Media Relations Executive
JiWin Public Relations
Exclusive Affiliate of Burson-Marsteller in the Middle East
Direct: +971 4 361 3599
Fax: +971 4 368 8001