Milestone Initiative aims at supporting the holding's aggressive growth plans

Beirut, 19 January 2012 - Al Rifai International Holding announced today the closing of a strategic deal with Doha based Qatar First Investment Bank (QFIB) - the country's independent Islamic investment bank.  - ProFinance International acted as arranger and financial advisor on this deal..

According to the agreement, the Qatari bank acquired a 15% stake in the leading manufacturer of nuts, kernels, light snacks and delicacies in the Middle East and Europe. Al Rifai International Holding remains the only Lebanese industrial group that a foreign business entity has ventured in during 2011.

Speaking about this investment initiative, Mohamed Al Rifai, Chairman and CEO of Al Rifai International Holding commented, "We welcome QFIB as a key shareholder in our holding. Our group is well positioned for expansion and this milestone deal will substantially benefit Al Rifai Holding that will capitalize on the expertise of QFIB in the areas of strategic counseling. The partnership will also allow us access to multiple sources of funding and risk mitigation tools, thus helping our group implement and further develop its growth and improvement plans."

"Our production and distribution facilities are recipients of several global certificates including the ISO 22000, International Food Standards (IFS) and British Retail Consortium (BRC) Global Food Technical Standard. QFIB's commitment to adopt international standards and processes complements our business philosophy and high standards of quality control", Al Rifai added.

Earlier in September 2010, Al Rifai Holding had increased its capital through a primary offering led by MedSecurities Investment to institutional and private investors. Commenting on this acquisition, Khaled Zeidan, General Manager of MedSecurities Investment said: "QFIB's acquisition in Al Rifai is a clear testament to Al Rifai's solid brand reputation and sound management."

Citing this venture as one of the Bank's pioneering deals, Emad Mansour, CEO of QFIB commented, "We are very excited about our partnership with Al Rifai which is our first venture into the F&B manufacturing industry and our second investment in the industrial sector.  From the outset our strategy was to focus on sectors that benefit from key drivers of economic change. Al Rifai is an award winning market leader in the nuts, kernels, light snacks and delicacies business. It has had a strong and stable performance over the years, diversified its product range and ventured into new markets; hence, it is well positioned to take advantage of the rapidly growing global savory snack market which is expected to reach US$ 85.4 billion in 2012.  We are very keen to work with Al Rifai management team to help the Group achieve its long term business objectives."

According to Euromonitor International the Middle East retail sales volume of sweet and savory snacks is positioned to grow by a phenomenal 21% between 2010 and 2014.  Al Rifai's annual turnover growth of 50% during 2011 and expected growth of 33% during 2012 is a clear testament to the company's excellent performance and success.

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About Al Rifai International Holding (Al Rifai)
Al Rifai International Holding Ltd. is the holding company for the Rifai interests in the nuts and kernels and coffee sectors worldwide, with the business having doubled its revenues over the last 3 years due both to growth in the Lebanese market and to expansion into Europe with the establishment of a 10,000 sqm state-of-the-art manufacturing facility in Sweden.

Its products are branded under the name of Al Rifai and Nutisal. The company owns 100% of the Nutisal and Rifai business worldwide, with the exception of the Arab Gulf and North Africa market which is operated through a joint venture arrangement with the Kuwaiti Homaizi Group.

About QFIB
Qatar First Investment Bank (QFIB) is a pioneering Islamic investment bank well positioned to work across the broader GCC and MENA region.   QFIB is unique in Qatar, simultaneously independent and central to the market, providing clients and counterparties with access to one of the region's deepest pools of capital. Adopting an investment strategy that centres on sector and geographical diversification, QFIB focuses on sectors that benefit from key drivers of economic change; these include the energy, financial services, industrials, real estate and health care services. Since inception in 2009, QFIB has executed a number of transactions in five different sectors across three geographies.

© Press Release 2012