3i invests in Arabian Gulf via Ithmar Capital USD250m Fund II

Notes and media contacts

For further information, contact:

Maha Masri, IR & Marketing Director, Ithmar Capital
Tel: +971 4 282 5555

Rachel Richards, 3i Press Office
Tel: +44 20 7975 3573

Barbara Saunders/, MCS/Action FZE
Tel: +971 4 390 2960

About 3i

3i is a world leader in private equity and venture capital. We focus on Buyouts, Growth Capital and Venture Capital and invest across Europe, in the United States and Asia Pacific. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.

In the year to March 31, 2005, 3i invested €1.4bn, including co-investment funds. 3i's Buyouts business is a pan European leader in the mid market, investing in businesses with a transaction value of up to €1 billion. 3i's Growth Capital business focuses on investing minority stakes in high growth companies expanding organically or through acquisition. 3i recent investments include Hobbs, UK women's fashion retailer and SRT, global technical aircraft solutions provider, both of which have recently entered the GCC markets, NCP, UK car parking services, Nimbus, Indian media/sports entertainment. 3i's recent successful exits include Petrofac, international oil and gas facilities service provider and Travelex, global foreign exchange service. For more information, go to www.3i.com

About Ithmar Capital

Ithmar Capital is a Dubai-based, GCC-focused private equity firm targeting growth capital and buyouts of businesses in attractive sectors. Ithmar has a strong regional team with financial and operational expertise, and a successful track record in adding value to the companies it invests in through a hands-on approach.

Ithmar's vision is to be the leading regional firm in terms of conduct and return. Its shareholders include some of the most strategic GCC-based institutional and high net-worth investors. The firm brings together a set of unique core competencies that make it a very distinctive private equity player in the region. It has key alliances that have a considerable impact in enhancing its regional and global connectivity and provides it with proprietary and unique deal flow.

Ithmar Capital is currently managing Ithmar Fund I, a US $70 million, fully-invested fund in a select number of firms in some of the most attractive sectors in the region. Following this success, Ithmar launched its second Fund Ithmar Fund II, which is over subscribed, and it is expected to be raising a total of $250M, far exceeding its initial $150M target. This fund follows a similar investment strategy to its predecessor and aims to achieve superior returns by capitalising on the new investment opportunities being generated by the surging regional economies.