frontierAlt sells 20% equity stake to Gulf Region financial group

    TORONTO, March 6 /CNW/ - frontierAlt Investment Management Corporation
("frontierAlt") is pleased to announce a new strategic partnership with Oman
National Investment Corporation Holding (ONIC.OM) aimed at providing strong
domestic and global growth opportunities for both companies.
    "This strategic partnership will facilitate frontierAlt's vision of
becoming a global financial institution", said Asif Khan, Chairman & CEO of
frontierAlt, "We will be able to leverage ONIC's strengths in the Middle East
and Asia to expand our offerings and provide quality investment solutions to a
far larger and more diverse investment audience. At the same time, frontierAlt
will support ONIC's growth plans in North America."
    ONIC Holding Group CEO Akbar Habib explains, "It's a strategic
investment, and another milestone in ONIC Holding's plans to truly diversify
our investment portfolios. This creates good synergy with our existing
business and at the same time provides geographical diversification."
    ONIC is a diversified investment holding company with core competencies
in insurance, leasing, housing finance & other related sectors. ONIC Holding's
direct subsidiaries include Al Ahlia Insurance & National Life Insurance; and
ONIC's affiliates include International General Insurance, Oman Orix Leasing,
Alliance Housing Bank, Gulf Warranties, National Finance House Bahrain, and
PAK Oman Asset Management. ONIC Holding's largest investor is Dubai-based
Shuaa Capital, the largest UAE investment bank by market value.
    "An entry into the North American market will provide other investment
opportunities to ONIC Holding and will enable the company to achieve its
vision of becoming a global financial services conglomerate," says Chairman
Sayyid Khalid Hamad Hamoud Al Busaidi.
    frontierAlt will also be the gateway to the Gulf Region for Canadian
companies looking to participate in the capital markets in the Gulf Region
through coordinating the efforts of capital market authorities in both

    frontierAlt Investment Management Corp. is a Canadian vertically
integrated financial services company based in Toronto. frontierAlt
specializes in the manufacturing and distribution of mutual funds, structured
products and flow-through limited partnerships. frontierAlt is also in the
business of investment counseling and corporate finance advisory. Its
subsidiary company, KeiData Back Office Solutions, provides fund
administration services to third party asset managers.

For further information:

For further information: Asif Khan, Chairman & CEO, frontierAlt
Investment Management Corporation, Tel: (416) 623-3161, Fax: (416) 360-6202,
email:; Kurankye Sekyi-Otu, Executive Vice-President,
frontierAlt Investment Management Corporation, Tel:(416) 623-3171, Fax: (416)
360-6202, email:; Zaigham Shah, Executive
Vice-President, frontierAlt Investment Management, Tel: (416) 623-3180, Fax:
(416) 360-6202, email:;

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