AMAN IPO starts May 25th to increase capital to AED 200 Million

This will be done through offering 14 million shares worth AED 10 each.

Announcements and sending invitations to shareholders will continue for a month starting from May 25th 2006 until June 24th 2006, where the IPO will take place in Dubai Islamic Bank; taking into account that the subscription will allow for one payment only.

AMAN's net profits for 2005 rose by 865% to AED 82.04 million from AED 8.5 million in the 2004 financial year. The company's investment earnings increased 112% to AED 144.08 million the previous year. Furthermore, the company's assets grew by 134% to AED 246 million compared to AED 105 million the previous year. The value of Insurance premiums paid increased by 77.5% to AED 95 million.

Hussain Al Meeza, Managing Director of AMAN, said:

"Our impressive financial results for the year 2005 has stemmed from our significant achievements during the year. The Company has launched several Sharaih compliant insurance and comprehensive health care services; it has also signed many strategic alliances with elite local, regional, and international partners to extend its suite of products and services."

"Under the visionary and aggressive leadership of our Board and dedicated operations of our highly qualified employees, we believe Aman is poised to reach more milestones in future."