The National Investor of shares for Tamweel PJSC IPO

Receiving Banks to start refunding excess funds on March 29.

Abu Dhabi, March 28, 2006: The National Investor (TNI), Financial Advisor, Lead Manager and Book Runner for the IPO of Tamweel PJSC, announced today that it successfully finalized the allotment of shares in the 550 million dirham ($149.7 million) Tamweel IPO and that receiving banks will begin refunding excess funds to subscribers starting March 29 as promised. Tamweel PJSC is the first ever conversion in the UAE of a company from an LLC status to a public company.

The initial public offering of Tamweel attracted over 140 thousand investors with total subscriptions exceeding 266.6 billion dirhams, leading to 484 times oversubscription.

Successful UAE individual subscribers (Tranche I subscribers) will receive an allocation of 1,184 shares, in addition the allocation from Tranche II if their subscription is in excess of 20,000 shares.

Tranche II, which is dedicated to UAE individuals that subscribed in excess of 20,000 shares or companies, raised AED 233 Billion and was 783 times over-subscribed.

In addition, Tranche III dedicated to Non-UAE subscribers, both individuals or companies, raised AED 26.2 Billion and was 228 times over-subscribed. The participation of UAE nationals in the Tamweel IPO was overwhelming as compared to non-UAE nationals. Tamweel would like to thank all subscribers for their trust in the company.

All successful subscribers will receive their allotment notices either through the mail or by personally picking up their allotment notices at the receiving banks where they submitted their subscriptions. Subscribers are requested to contact their receiving banks to find out which method of delivery will be used. Each allotment notice will include a refund cheque, an invitation to the constitutional general assembly, and a proxy form. The IPO of Tamweel opened on February 27 2006 and closed on March 8, 2005. The shares on offer represent 55 per cent of the firm’s capital. Tamweel PJSC was the first IPO for 2006 and will be listed on the Dubai Financial Market.