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Eastgate MENA Direct Equity L.P. invests in Fabeks Diş Ticaret A.Ş.

Riyadh, March 2012:
Eastgate Capital Group , the private equity fund management arm of NCB Capital of Saudi Arabia, announced today that it has completed a growth capital investment in Fabeks Diş Ticaret A.Ş. (Silk & Cashmere), a leading retail apparel company based in Istanbul, Turkey. The investment will facilitate the Fabeks' expansion in Turkey and selected international markets.

The transaction represents the fifth investment of Eastgate MENA Direct Equity L.P. Fund, Eastgate's flagship growth equity fund, and the firm's first investment in Turkey, home to one of the largest and fastest-growing retail apparel markets in the world.

Silk & Cashmere's stellar performance to date is the direct result of a visionary founder, a unique product with a distinctive value proposition, and an experienced senior management team that demands nothing less than exceptional performance at each of the Company's stores.

Since creating the brand in 1992, Aysen and Bijen Zamanpur built Silk & Cashmere from a single store to a retail apparel platform with [106] retail outlets worldwide, including [27] company-owned stores, [11] franchises, and [68] corners in [22] countries. Today, the Company is well-positioned for robust growth and this transaction represents a collaborative partnership between Eastgate and Silk & Cashmere's executive entrepreneurs to achieve that growth potential in a sustainable and profitable manner. The founding family of Silk & Cashmere will retain a majority ownership stake in the Company following this transaction.

Aysen Zamanpur, the Founder and Chief Executive Officer of Silk & Cashmere, said: "We have been very successful, with the universal and affordable luxury brand we created, by using two of the most precious natural fibers,silk and cashmere, and have achieved a sustainable and profitable growth. In our 5 year strategic plan we have a more agressive growth strategy. We believe that partnering with Eastgate Capital Group will contribute to that goal. Silk&Cashmere is a unique brand and it was very important for us to partner with an investor who would understand our uniqueness and values".

Nasr-Eddine Benaissa, a Managing Partner at Eastgate Capital Group , said: " We are delighted to partner with the Zamanpur family to sustain and accelerate the growth trajectory of Silk&Cashemere. The company has very strong fundamentals and is poised for rapid and profitable growth. This is the first of many more investments we intend to make in the important Turkish market"

About Eastgate Capital Group :
Eastgate Capital Group is the private equity investment arm of NCB Capital , the CMA licensed - wealth management, securities and investment subsidiary of the National Commercial Bank of Saudi Arabia. A leading regional private equity firm, Eastgate's mandate is to source, structure and invest in attractive private equity and real estate opportunities in the Middle East, North Africa, and Turkey. With approximately US$[600] million in commitments under management and over [eleven] investments in the last 3 years, Eastgate is one of the largest and most active private equity firms in the region. Eastgate's aims to be a value-adding partner to high-growth companies that have potential to be regional champions within their respective industries. Eastgate Capital Group Limited is headquartered in Dubai, United Arab Emirates and regulated by the Dubai Financial Services Authority ("DFSA").

About Fabeks Diş Ticaret:
Based in Kemerbergaz, Istanbul, Fabeks Diş Ticaret A.Ş. is a retail apparel company that sells apparel and accessories under the brand name "Silk & Cashmere". With [106] stores, including [27] company-owned stores, in [22] countries worldwide, Silk & Cashmere is the leading Turkish brand for affordable luxury apparel made from silk and cashmere, two of the most precious natural fibers. Widely-regarded within academic circles as a hallmark example of successful brand development in a niche market segment, Silk & Cashmere proudly celebrates its 20^th years of successful operations. The Company's executive entrepreneur team remains keenly focused on expanding the store footprint in Turkey and selected international markets.

For further inquiries, please contact:
Aysen Zamanpur
Founder, Chairwoman and Chief Executive Officer
Fabeks Diş Ticaret A.Ş.
Selanik Bulvarı. No: 131 34075
Kemerburgaz, Istanbul
Turkey
Nasr-Eddine Benaissa (n.benaissa@eastgategroup.com)
Managing Partner
Eastgate Capital Group Limited
P.O. Box 124620,
Level 13, Office 1304, Park Place Tower, Sheikh Zayed Road,
Dubai
United Arab Emirates

Saeed Al Amoudi
Senior Media Relations Executive
TRACCS
Tel: +966 2 662 5757
Fax: +966 2 639 9540
Email: saeed.alamoudi@traccs.net

© Press Release 2012

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