The National Investor transition in leadership

Abu Dhabi, June 28th, 2005: The National Investor (TNI), one of the UAE’s leading investment and merchant banking firms, has announced the appointment of a new CEO following the decision of Dr. Karim El Solh, the current CEO, to step down in September and pursue a new entrepreneurial venture.

The new venture will be announced in the fall and will focus on regional private equity investments. “After serving at TNI for close to four years and taking the firm to record profits and no. 1 market share, I feel it is a good time for me to pursue new challenges. It is particularly satisfying for me to see all of our efforts being recognized as we have earned numerous awards including “Best Equities House in the UAE” by Euromoney and “Best Private Equity House in the Middle East” by Banker Magazine. TNI, today, is in its strongest shape ever and is well positioned for future growth,” commented Dr. Karim El Solh.

Mr. Abdullah Al Mazrui, Chairman of TNI added: “TNI has grown substantially under the tenure of Dr. El Solh and today the Company, is firmly positioned as one of the most dynamic, progressive and profitable investment banks in the region as evidenced by our sizeable market share and the dramatic jump in our profitability. These results are a strong testimony to Dr. El Solh’s leadership and vision. The Board of the National Investor joins me in thanking Dr El Solh for all of his remarkable achievements and wishing him all the best on his new venture.” Under Dr. El Solh’s leadership, TNI’s total assets grew by 484% and total equity by 587%. Moreover, return on equity last year was a remarkable 51% and profits were up by 721%. In the last three years, TNI has conducted over AED6 billion worth of equity offerings, earning it the top spot in IPOs in the UAE. The strong performance during Dr. El Solh’s tenure is reflected in the substantial surge of the Company’s share price, up by 713% since April 2002.

Succeeding Dr. El Solh as CEO in September will be Mr. Orhan Osmansoy, a veteran investment banker with deep experience at both Morgan Stanley and Whitney Group. Mr. Al Mazrui added: “the Board of TNI has decided to select the new CEO from within the ranks of TNI given our deep pool of talent. Mr. Osmansoy was unanimously selected by the Board to serve as the new CEO as he has the requisite experience and track record to lead this firm to even greater heights. Furthermore, he has had great success in recent months in winning a number of prestigious mandates for the firm and has proved his leadership skills. We welcome him and look forward to working with him and building on the successes of our previous CEO.” -Ends-

Notes to Editors:

About the National Investor: The National Investor is a leading UAE investment and advisory firm with a distinguished track record in investment banking, private equity, real estate and asset management. The Company is backed by over 80 UAE shareholders who come from the highest echelons of the business and political community. TNI is actively involved in investment banking, private equity, and asset management and is currently ranked as the leading arranger of public share offerings, having lead managed the largest number of public offerings in the UAE to date. For more information, please visit www.nationalinvestor.ae.