Qatar's SALAM International Investment Limited to be the first to list on DFM

SALAM is the first Qatari company to be listed on DFM and the 38th public joint stock company listing out of 55 securities instruments listed on DFM.

SALAM is classified under 'Service' sector which includes 13 public joint stock companies now. The company's shares would start trading from Tuesday, July 11, 2006 with trading symbol (SALAM) that will appear on DFM screens, trading systems and publications.

The listing of ordinary shares of SALAM incorporated in Qatar has been finalized and approved by DFM in collaboration with ESCA. SALAM is listed on Doha Securities Market and investors would now be able to trade these shares on DFM as well. Foreign investors are allowed to acquire SALAM's shares at maximum of 49 per cent of its total QAR 828,015,000 shares.

Essa Kazim, Director General of DFM, said:

'We welcome SALAM International to the DFM and wish them a fruitful presence here. This new listing is another vote of confidence from a well established and profitable growth stock in the opportunities that DFM brings to the table. With a world-class systems and process DFM is able to attract not just UAE based companies but companies from across the GCC. We welcome SALAM International to our bourse, and look forward to a prosperous future together.'

On behalf of Salam International's Board of Directors, Dr. Hamad Al Kawari, Board Member at SALAM International, said: 'It is an honor for Salam International to be the first Qatari Public Shareholding company to be listed on DFM and the second listed on regional markets. Salam International will be Qatar's private sector representative in this matter. The objective from listing SALAM's shares on DFM is based on strategic and long term plans and not on short term basis. This decision came in compliance with the company's strategy that aims to expand, grow and achieve sustainable benefits for Salam shareholders.'

Salam International Investment Limited (SALAM), a Qatari shareholding company, owns and manages 25 business units in diverse fields, namely, Consumer Services, Information Technology and Communications, Industrial Engineering, Oil and Gas Services, Technical Services, Fabrication, Style and Furnishing, Contracting, Project Management, Investments and Real Estate development.

As on December 31, 2005, SALAM's revenues stood at QR 567.55 million and net profit stood at QR 75 million. SALAM operations extend to Qatar, United Arab Emirates, Palestine, Kuwait, Saudi Arabia, Oman, Bahrain, Jordan, Lebanon, Syria and is currently considering expansions in the pan-Arab area. SALAM establishes, incorporates and owns enterprises in the commercial, industrial, educational, tourist, real estate, financial and service areas.