First Invest (a Private Joint Stock company under formation) appoints Emirates Financial Services for AED 500 Million equity capital-raising

H.H Sheikh Ahmed Bin Saeed Al Maktoum, Chairman Designate of First Invest, has on Tuesday, 13 June 2006, exchanged a mandate letter with Mr. Khalid Jassim Kalban, Chairman of Emirates Financial Services PSC (EFS), appointing EFS as the Book Runner & Lead Manager for First Invest (a Private Joint Stock company under formation)'s AED 500 million equity capital-raising.

The company will focus on investment business; offering corporate finance, private equity and asset management services.

At the ceremony, H.H Sheikh Ahmed Bin Saeed Al Maktoum said that he was pleased to engage EFS for this prestigious assignment.

Mr. Khalid Jassim Kalban, Chairman of Emirates Financial Services PSC (EFS), thanked H.H Sheikh Ahmed and First Invest's Founders' Committee for their confidence in EFS's capabilities and for entrusting this exclusive equity-raising assignment to them.

First Invest's Founders' Committee comprises :

Mr. Ziad Abdulla Galadari Committee Chairman
Mr. Obaid Ghanim Al Mutaiwie
Mr. Ali Ibrahim Mohamed
Mr. Hassan Ahmad Dahabiyeh
Mr. Ahmed Ghanim Al Mutaiwie

The Chairman of the committee, Mr. Ziad Abdulla Galadari said that the company has already received an enthusiastic response from within the U.A.E. and outside.

Mr. Suresh Kumar, Chief Executive Officer, Emirates Financial Services PSC (EFS), stated that invitations to participate in the equity-raising will be sent by EFS to selected business groups and high value individuals; who can add synergies and share in the vision of and enhance value to first invest.

Emirates Financial Services PSC (EFS), and Emirates Bank Group (EBG) have had a track record in domestic and regional capital markets in attracting about us$ 17 billion over the last decade.