Abu Dhabi - December 22, 2003 - Tabreed - The National Central Cooling Company (PJSC) today announced that it has retained The National Investor (TNI) and Credit Suisse First Boston (CSFB) to act as joint-lead managers on its planned US$100 million Islamic Sukuk Offering.

Karl Marietta, Tabreed's Director of Finance, said: "Given the importance of this landmark transaction to both Tabreed and to the development of the local and regional capital markets, we have decided to combine the strengths of a leading global investment bank, such as CSFB, and TNI, with its extensive regional and local investment base, in order to ensure that this transaction is planned and executed in accordance with top international standards, for the benefit of both Tabreed and potential investors."

Tabreed is contemplating approaching the capital markets with the Sukuk Offering in the first quarter of 2004

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About Tabreed

Tabreed has offered district cooling as a utility in the UAE for over five years, pioneering energy efficient gas-fired and electric-powered district cooling solutions in the UAE and across the region. The leading district cooling service provider in the Middle East region, Tabreed offers customers the highest quality service through an integrated energy system devised to help them optimise their energy usage and reduce power and maintenance costs.

Tabreed is a member of the International District Energy Association (IDEA), Association of Energy Engineers (AEE), International Association for Energy Economics (IAEE), International Institute of Refrigeration (IIR), American Gas Cooling Centre, Inc. (AGCC) and the Dubai Quality Group.

About The National Investor

The National Investor is a leading UAE based regional advisory and investment firm with a track record in innovative advisory, fundraising, private equity and asset management. The National Investor is backed by 60 UAE based shareholders and is actively involved in investment banking, private equity, and asset management.

About Credit Suisse First Boston

Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. CSFB's businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and asset management. CSFB operates in 69 locations in 34 countries across five continents. The firm is a business unit of the Zurich-based Credit Suisse Group, a leading global financial services company.

Abu Dhabi, UAE, Monday June 16 -In order to expand their Middle Eastern presence and to better serve their clients in the region, Credit Suisse Asset Management Limited ("CSAM") through its wholly-owned subsidiary CSAM (UAE) Limited and The National Investor ("NI") announced today that they have agreed to establish an exclusive agreement to develop asset management business in the United Arab Emirates (UAE). This agreement is subject to and will become effective following confirmation of the necessary regulatory approvals.

The initiative will be represented within the UAE by NI but will develop its own distinct identity - leveraging the asset management and research capabilities of both CSAM and NI. The intention is to offer a range of local and international investment products with different risk characteristics to suit the varying needs of UAE institutional investors.

The combination of CSAM's comprehensive investment product range and global reach with NI's local products and institutional client franchise will provide the basis for development of an innovative asset management business in the UAE. The National Investor will be one of the few regional financial institutions possessing a top-class corporate and institutional client base served by a full range of local and international investment products and services.

Commenting on the agreement, Robert Parker, Vice Chairman of CSAM stated, "Joining the resources of CSAM and NI is a positive move for clients in the UAE and for both firms. Clients will benefit from more comprehensive services and improved coverage, and our broader product offering will ensure that we are well positioned for future growth."

Dr. Karim El Solh, CEO of The National Investor, said: "This pioneering initiative is an important first for the UAE. CSAM is signalling its strong commitment to the local market, through its willingness to join NI in developing our asset management business. The result should be a world-class asset management business with a robust infrastructure, talented professionals, managed to the highest standards and second to none in the region. Our UAE clients will be the net beneficiaries of this far-reaching agreement."

CSAM Managing Director Simon Boote added: "This is a strategic partnership for CSAM which will significantly strengthen CSAM's coverage of the UAE market. It brings us new clients and gives us a stronger platform from which to leverage our global capabilities in the UAE. Furthermore, we will work closely with NI on the development of regional investment products for investors in the UAE and abroad. This should result in higher visibility for the UAE capital markets and hopefully increased inward investments into the country".

Abdullah Al Mazrui, Vice Chairman of The National Investor, said: "This alliance is a great development for the clients, employees and shareholders of The National Investor. The combination of CSAM's expertise in asset management and global reach with NI's local products, quality of management, strong local presence and proven track record creates exciting growth potential. I am delighted that CSAM's executive management shares our vision for the future and we look forward to embarking on this exciting venture together."

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Note to Editors:

The National Investor is a leading UAE investment and advisory firm with a distinguished track record in fundraising, advisory services, asset management and private equity investments. The Company is backed by over 60 UAE shareholders who come from the highest echelons of the business and political community. NI is actively involved in investment banking, private equity and asset management. The Company 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 (with total transaction value exceeding 2.4 billion AED). NI is also actively involved in the local asset management scene, having launched innovative products such as the first Emirates Real Estate Fund. For more information on the National Investor, please visit the Web site at http://www.nationalinvestor.co.ae

Credit Suisse Asset Management is the institutional and mutual fund asset management arm of Credit Suisse First Boston, part of the Credit Suisse Group, one of the world's largest financial organizations with approximately USD 851.3 billion in assets under management. With USD 292.3 billion (March 2003) in assets under management, 2,079 staff worldwide, and activities focused in three regions, CSAM has investment capabilities in all major asset classes, including equities, fixed income, real estate, balanced products and alternative investments. Please note that this is not an offer for advisory services by Credit Suisse Asset Management. For more information on Credit Suisse Asset Management, please visit the Web site at http://www.csam.com