EFG-Hermes Board accepts Abraaj Capital bid for acquisition of 25% stake

Notes and media contacts

About Abraaj Capital:
The first pure private equity firm licensed to operate in the Dubai International Financial Centre, Abraaj Capital is the leading asset management firm in the Middle East, North Africa, South Asia region. It has US$1.5billion of assets under management. The firm's primary expertise is in private equity buyouts, strategic minority block positions in public enterprises and real estate investments within the region. As a recognition of its operating excellence and regional expertise, Abraaj received the 'Middle Eastern Private Equity Firm of the Year' award from Private Equity International in March 2006. In addition, it has received the 'Best Private Equity House' award from the Banker Middle East in May 2006.

The executive directors of the firm have a long history of working together and are associated with some of the landmark private equity transactions in the region such as the acquisition and subsequent exit from Aramex, - the first and largest leveraged transaction in the region Inchcape Middle East and privatisation of Jordan Aircraft Maintenance Company (JorAMCo) by the Government of Jordan, for more information please visit www.abraaj.com

About EFG Hermes:
EFG-Hermes is the Arab world's premier investment banking firm and the market leader in securities brokerage, asset management, investment banking, and private equity.

EFG-Hermes was established in 1984. In July 1998, EFG-Hermes went public with a USD 50 million GDR offering and now boasts a market capitalization of nearly USD 1 billion. EFG-Hermes is listed on the London and Cairo stock exchanges. Since 1997, EFG-Hermes has raised equity of approximately US$ 4.6 billion for its investment banking clients and advised on more than US$ 12.8 billion worth of M&A transactions. The firm advised major international clients such as Nestle, Kraft foods, American Express, Pepsi Co., Heineken, Bristol-Myers Squibb Co., HSBC, and GlaxoSmithKline. EFG-Hermes has offices in Cairo, Alexandria, Mansoura, the Kingdom of Saudi Arabia, and Dubai and employs more than 400 individuals.

For further information, please contact:
Tim Harrison/ Bakul Gala
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Fax: 971-4-3356080