Istithmar Expands International Footprint With the Opening of a New Office in The People's Republic of China



    - Office in Shanghai to Bolster Market and Industry Insights for M&A
    Transactions

    DUBAI, Nov. 8 /CNW/ - Istithmar, the leading private equity and
alternative investment house headquartered in Dubai, United Arab Emirates
(UAE), has bolstered its international presence with the opening of a new
office in Shanghai, The People's Republic of China.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20070805/268060 )

    The formal set-up of Istithmar in China represents the firm's first
official international foray outside the UAE. In addition to targeting
untapped opportunities in one of the world's key emerging markets, this move
also signifies a major step forward in Istithmar's growth plans, and heralds
the beginning of its expansion in prominent cities around the globe.
    Khaled Al Kamda, Vice Chairman, Istithmar, said: "The opening of our
office in Shanghai is a significant milestone in the corporate development of
Istithmar: it underscores the strong Sino-Arab economical and political
relations between the two regions; and demonstrates a major step forward in
our international expansion plans. Given the immense growth in China, as well
as key markets in Asia-Pacific, we are confident that a formal presence will
serve as a strategic springboard in terms of sourcing for the best
opportunities that add value to our investment portfolio."
    David Jackson, Chief Executive Officer, Istithmar, said: "Istithmar has
been experiencing phenomenal growth since its inception. Given our track
record of striking significant investments on the international platform with
precision, we believe a permanent ground presence in China will provide
greater proximity to opportunities and developments in a rapidly developing
Asia. This only serves to enhance and deepen our team's insights in our core
expertise in the financial, consumer and industrial sectors. China is a true
emerging market with strong potential for growth, and we are confident that
our local presence will stand us in good stead in our quest for premium
investments across all sectors."
    Prior to this formal set-up, Istithmar's earlier engagement with China
had taken the form of a strategic acquisition of a 9.91% stake in Hans Energy
Company Limited, the largest independent operator in the terminal and storage
industry for oil and chemical products in South China. This investment had
marked a significant milestone for Istithmar's investment strategy in China,
underscoring the firm's confidence in the Chinese market.
    Istithmar's office in Shanghai will be spearheaded by Mr. Gable Gao,
Managing Director, and Ms. Jane Shao, Managing Director. Having worked in the
investment banking arena since 1994 and 1995, Mr. Gao and Ms. Shao bring
together a plethora of expertise in this sector. Mr. Gao joined Istithmar in
2006 and had previously worked for Dexia Credit Local, WestLB and Chase
Securities Inc. in New York. Ms. Shao also joined Istithmar in 2006 and had
previously worked for Chase Securities, CSFB and JP Morgan in New York, Hong
Kong and Beijing.

    About Istithmar:

    Istithmar is a private equity and alternative investment house
headquartered in Dubai, the United Arab Emirates, with an office in Shanghai.
Established in 2003, it is 100% owned by Dubai World which in turn is wholly
owned by the Government of Dubai. In the three years since its inception,
Istithmar has invested in over 35 companies in three sectors -- consumer,
industrial and financial services --- deploying in excess of US$3 billion of
capital. Istithmar's 'I' Investment Philosophy is based around three core
principles -- Ideas, Inquiry and Integrity -- and is the foundation on which
the firm has established a broad portfolio of highly successful investments in
the markets from North America and Europe to Asia and the Middle East.
http://www.istithmar.ae




For further information:

For further information: Hwee-Suan Ong or Mohamed Tahboub, BPG Public
Relations, Tel: +971-50-786-2997, Fax: +971-4-295-1027; E-mail:
Hweesuan@batespangulf.com or mohamed@batespangulf.com

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