DUBAI: United Arab Emirates: Daman InvestmentsDaman Investments PSC, a leading UAE-based fund manager, today announced the performance results for the month of October 2008 for three of its funds; the Daman Speculator Fund, the Daman Second Emirates Fund, the Daman Islamic Fund.

DAMAN SPECULATOR FUND POSTS A TOTAL RETURN OF 4.95% SINCE INCEPTION

The Daman Speculator Fund, a trendsetting UAE-registered open-ended fund focussed on the dynamic and vibrant nature of the UAE equity markets closed the month of October at a Net asset value (NAV) of AED 103.95 per unit as of as of October 30, 2008, a month to date rise of 1.85% and registering a total return of 4.95% since inception in July 2008

The current annualized dividend yield for 2008 stands at 4.62%

DAMAN SECOND EMIRATES FUND POSTS NAV OF AED 71.33 PER UNIT

The Daman Second Emirates Fund, a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focussed on the UAE equities markets, closed the month of October at a Net asset value (NAV) of AED 71.33 per unit as of October 30, 2008, a decline of -22.09%, as against NBAD General Index drop of -17.71%.

DAMAN ISLAMIC FUND - NAV STANDS AT AED 63.85 PER UNIT

The Daman Islamic Fund, a Shari'ah based, open ended UAE-registered mutual fund, closed the month of October at a Net asset value (NAV) of AED 63.85 per unit as of October 30, 2008, a month to date decline of -21.07%, as compared to NBAD Islamic Index drop of -18.09% for the corresponding period.

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About Daman InvestmentsDaman Investments PSC (www.daman.ae)
Daman InvestmentsDaman Investments PSC is a private joint stock company based in Dubai and capitalized at AED 200 million. From its early beginnings in 1998, the group has grown rapidly into a non-bank financial services company now widely recognized as an authority in its core markets, the Gulf Cooperation Council and Iraq.

Known for offering innovative investment products and services to both regional and international clients, Daman provides investment management and development capital investment opportunities as well as domestic and regional brokerage operations through its subsidiaries. Daman is committed to the principles of ethical business practice and operational transparency. All Daman's various operations are regulated by the United Arab Emirates Central Bank, the Emirates Securities and Commodities Authority (ESCA) and the Dubai Financial Services Authority (DFSA). Daman is well positioned for its clients as their gateway to the new Arab World economy.

About the Daman Speculator Fund
The Daman Speculator Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank. The fund will have an initial offered unit price of AED 100 per share and a targeted size of AED 200 million. Daman InvestmentsDaman Investments seed capital in the fund is AED 5 million.

Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and seeks to exploit the dynamic potential of the UAE and GCC equity markets.

About the Daman Second Emirates Fund
The Daman Second Emirates Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focussed on the UAE equities markets. The fund has an initial offered unit price of AED100 and a targeted size of AED 200 million. Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.

About the Daman Islamic Fund
The Daman Islamic Fund is a Shari'ah based; Open ended UAE-registered Mutual Fund regulated by the United Arab Emirates Central Bank. The Fund will invest primarily in Shari'ah Compliant securities listed on the UAE financial exchanges. The Fund will have an initial offered unit price of AED100 and a targeted size of AED 200 million. Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.

For further details please contact:
Daman Corporate Communications
Tel: 971 4 332 41 43
Fax: 971 4 332 42 40
corpcomm@daman.ae

Or Yasser Fathy / Walid El-Tigi
Arabia PR FZ LLC
Tel: + 971 4 391 12 00
Fax: + 9714 390 45 11
info@arabiapr.com; www.arabiapr.com

© Press Release 2008 from Arabia PR

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