Reuters sponsors Investment Products Committee (IPC) Awards 2002

Now in their fourth year, the awards are an important initiative by Saudi banks to strengthen the mutual fund industry in Saudi Arabia which has grown substantially over the last four years.

Granted to the best performing mutual funds for the past one and three years, after they have been evaluated and certified by external auditors, the awards will be announced and presented to winners at the ceremony on Sunday.

The Deputy Governor of Saudi Arabia Monetary Agency (SAMA), H.E Jammaz Abdullah Al-Suhaimi will be delivering the keynote address at the dinner in the presence of an expected 100 executives and investment managers from local banks and members of the financial community who are interested in money market activities.

Well known to the financial community in Saudi Arabia and with extensive knowledge, experience and understanding of the investment banking industry in the Kingdom, Reuters is well positioned to host the ceremony. Providing real time financial data and information to banks and financial institutions from its extensive global data sources, drawing on information on more than 940,000 shares, bonds, and other financial instruments as well as on 40,000 companies, Reuters Gulf ensures that it draws on the vast information available through its global network to serve its clients.

Michael Kuli, Managing Director Reuters Gulf comments, "Reuters is delighted to be co-sponsoring the IPC Awards 2002 and we would like to extend our thanks to SAMA. We are proud to be helping in such an important initiative. We emphasise our commitment to the Kingdom through the presence of our three Reuters' offices in Riyadh, Jeddah and Al Khobar and we renew our commitment to Saudi Arabia."

ENDS