THANI INVESTMENTS ANNOUNCE US$ 100,000,000 MUSHARAKA SUKUK

- One of the first private companies in the region to opt for debt issuance
-Emirates Islamic Bank & Liquidity Management Center act as Joint Mandated Lead Arrangers

Dubai – 18 November, 2007 – Thani Investments LLC – Dubai, a private company with business interests in mining, gold, and property (including Dubai Golf City) today announced the successful closure of the US$ 100 million Musharaka Sukuk Issue, arranged by UAE Emirates Islamic Bank PJSC and Liquidity Management Centre BSC, Bahrain (the Joint Lead Mandated Arrangers). With this issuance, Thani Investments becomes one of the first privately owned businesses in the GCC to issue a sukuk; driving strong growth in the coming financial year by harnessing sophisticated financial engineering techniques.

Launched in September 2007, the debut issue from Thani Investments raised significant interest from regional and international institutional investors, and was significantly over collateralized at the close. Emirates Islamic Bank and Liquidity Management Centre acted as Joint Mandated Lead Arrangers; Commercial Bank of Dubai as Senior Lead Manager; Dubai Islamic Bank and The Arab Investment Company as Lead Managers; Bahrain Islamic Bank and Khaleeji Commercial Bank as Co Lead Managers and Sharjah Islamic Bank as Manager. The Sukuk has a tenor of five years, with an average life of approximately 3.5 years.

“Thani Investments is delighted with the response that this debut sukuk issue has received,” commented Mr. Abdulla Saeed Al Thani, Chairman, Thani Investments. “As one of the first private companies in the region to issue a sukuk, we are proud to once again be leaders in our field. The success of this debut issue demonstrates the market’s confidence in Thani Investment’s business model and success to date, and we are confident that the team will continue to deliver sound results across our business divisions. The team effort of both Emirates Islamic Bank and Liquidity Management Centre was integral to the successful close of this issue, and we look forward to working with them in the future.”

Mr. Abdulla Showaiter, General Manager, Corporate Banking of Emirates Islamic Bank said; “Emirates Islamic Bank proudly and successfully closes this Sukuk issue once again alongside its strategic partners. We are pleased to be associated with Thani Investments, with their well-focused strategic investment growth in the region.”

Mr. Ahmed Abbas, Liquidity Management Center’s Chief Executive Officer added his thanks to Thani Investments, and strategic partners Emirates Islamic Bank, as well as all other participating banks.

The transaction legal counsels representing the Joint Lead Mandated Arrangers and Managers were Vinson & Elkins on matters relating to English Law and Khasawneh & Associates for matters relating to UAE law. Transaction legal counsels representing Thani Investments were Herbert Smith and Afridi & Angell.

Information on the Sukuk:
Issuer: Thani Investments Sukuk Company Ltd.
Amount: US$100,000,000
Maturity: October 2012
Issue Type: Sukuk al-Musharaka
Listing: Optional

About Thani Investments:
Thani Investments is a large privately owned business in the United Arab Emirates. Established in 1997 and operating in 8 countries, Thani has 4 diversified business units:
• Oil and Gas
• Property Development
• Mining
• Commercial
Thani is focused on building long term growth and profits through developing leading relationships in the Middle East. Founded on the values of integrity, passion and energy, Thani has over 1000 employees working to build a long term growth story for Dubai. Thani’s Oil and Gas interests include Sudan Mauritania, Tunisia, Algeria and Senegal. The Company is exploring in the emerging markets of Yemen, Libya, and Indonesia. BENAA, the property development subsidiary of Thani Investments include the Dubai Golf City, Al Bustan Centre and Residence, Arabian Heights and the Dubai Wholesale Plaza. Thani’s mining interests include gold exploration and production in the Yemen. Thani commercial encompasses power and utilities, marine and shipping and other corporate partnerships.

About Emirates Islamic Bank:
Emirates Islamic Bank opened its doors in October 2004 with a mission to provide consumers in the UAE with effective and innovative Shari'a-compliant financial solutions.
The Bank offers a range of Shari'a compliant products and services conforming to the highest standards of Islamic finance and all its activities are overseen by a Shari'a board comprising several prestigious scholars of Islamic law.

On the retail side, the bank has an array of products, such as a full range of credit cards including Visa Infinite Card; Manzili Home Finance, Intaleq Car Finance, and many other products. The bank has also launched Al Reem Ladies Banking, a specialized banking service designed to cater to the banking and financial needs of women in the region.

The bank also offers Ethmar Priority banking to suit the demands of the high-net-worth clients.
Emirates Islamic Bank is very active on the Corporate Banking level, seeking exceptional investment opportunities in the local as well as the regional market. Within almost three years of its inception Emirates Islamic Bank has managed to position itself as one of leading financial players in the UAE's banking sector. The bank's rapid growth and success is mainly due to its continued successful launch of Shari'a compliant products, services and other key business initiatives.
EIB is headquartered in Dubai and employs more than 800 staff.

Liquidity Management Centre BSC (c)

LMC was established on July 29th, 2002 in the Kingdom of Bahrain as a Bahraini joint stock company with an Islamic Investment Banking license to enable Islamic financial institutions to manage their liquidity through short and medium term liquid investments within Shari’ah guidelines. The Central Bank of Bahrain formerly the Bahrain Monetary Agency was the primary sponsor in establishing LMC.

The bank has Authorized Capital of US$ 200 million and the Subscribed and Fully Paid up Capital is US$ 51 million. LMC’s shareholders are Bahrain Islamic Bank B.S.C. (Kingdom of Bahrain) 25%, Dubai Islamic Bank P.J.S.C. (United Arab Emirates) 25%, Islamic Development Bank (Kingdom of Saudi Arabia) 25% and Kuwait Finance House K.S.C. (State of Kuwait) 25%. LMC as an organization has had and continues to share a very close working with each of its shareholders.

LMC is an active player in the primary market and in the establishment of a secondary market for short term Shari’ah compliant treasury products across the GCC region. LMC has amassed a very creditable track record of primary market Sukuk issuances since mid-2003 where it has passed the 1.5 Billion Dollar level.

LMC commenced its operations from a comparatively small size and has focused on the managed growth of its business. It is the Company’s aim to deliver quality in all areas of its business.

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