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Al Rifai raises USD $15,000,000 in a private placement led by MedSecurities and arranged by Profinance

Beirut, Lebanon - September 20, 2010: Al Rifai International Holding LTD successfully completed a $15,000,000 capital increase through a private placement of shares. The offering attracted both local and regional investors who fully subscribed to the offering. MedSecurities Investments SAL, a wholly owned subsidiary of BankMed sal, acted as exclusive placement agent. ProFinance International, which has acted as financial advisor to the company over the last couple of years, acted as financial advisor and arranger on the transaction.

Al Rifai intends to utilize the private placement proceeds primarily to finance the growth of its Nuts & Kernels business in the Lebanese and international markets and to invest in additional resources and equipment to improve product quality and efficiency. Al Rifai also intends to invest part of the proceeds in the development of growing its coffee operations.

"For over 60 years the Rifai brand has achieved many key milestones which has helped in establishing its name among the most successful regional and now global players in the Nuts & Kernels business. Today's announcement is another achievement for our company, supporting the creation of global brand, cementing its leadership in the sector and creating further value to our shareholders" said Mohamed Al Rifai, General Manager of Al Rifai International Holding ltd.

"We believe that this transaction will be a precedent for other strong brands in Lebanon and the region to come forward and open up their capital base," said Khaled Zeidan, General Manager of Securities and Structured products at MedSecurities.

Bernard Mouchbahani, Managing Partner of ProFinance International, added "AL Rifai has succeeded in transforming a traditionally artisanal business into a state-of-the art automized operation, thereby enhancing quality standards and capacity and positioning it for strong global growth. The company's expansion into Europe has also allowed it to diversify its markets and spread its geographical risk."

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About AL Rifai:
Established in 1948, Al Rifai is the leading brand in the Nuts and Kernels business in the Middle East. Al Rifai embarked on an expansion plan into Scandinavia and Europe in 2008, with the establishment of a 10,000 sqm state-of-the-art manufacturing facility in Sweden. Al Rifai International Holding Ltd. is the holding company for the Al Rifai group interests in the Nuts & 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 its expansion into Europe. Its products are branded under the name of "Nutisal (by Al Rifai)" in Scandinavia and Europe.

About MedSecurities:
MedSecurities Investment sal was established in 2007 and is a wholly-owned subsidiary of BankMed SAL. MedSecurities offers brokerage and investment product development services to a growing local and international customer base. Dedicated to innovation and quality of service, MedSecurities is involved in securities trading as well as in the distribution of both tailor-made and off-the-shelf investment products, in equities, fixed income, currency and commodity markets. MedSecurities has been involved in several private placements over the course of the past several years across different industries and geographies and has raised in excess of USD 300 Mln in private deals.

About BankMed :
Headquartered in Beirut, BankMed , originally established in 1944, is the fifth largest bank in Lebanon when measured by its total assets with a current market share of around 10%. BankMed and its subsidiaries provide a broad range of retail banking, corporate, wealth management, brokerage and investment banking products and services to both individuals and companies.

BankMed 's operations also extend to Turkey where it has a Banking subsidiary under the name of Turkland Bank (T-Bank), to Switzerland where it has a subsidiary engaged in traditional private banking activities, to the Kingdom of Saudi Arabia where it has an investment company subsidiary offering investment and advisory activities, and to Cyprus, where it has a branch.

Members of the Hariri family own in excess of 99.9% of BankMed 's equity through their shareholdings in GroupMed S.A.L. Holding. As at June 30 2010, BankMed had total assets of US$ 11 billion, customer deposits of US$ 8.5 billion and shareholders' equity of US$ 1.1 billion. The Bank has a total client base of more than 130,000 customers and employs 1,717 individuals.

About ProFinance International:
ProFinance is a financial advisory boutique specialized in corporate and project finance, and offering tailored corporate and project finance services. Its services include financial and restructuring advisory, M&A advisory, financial structuring, and fundraising. ProFinance's track record and expertise in both developed and emerging markets extends across a wide range of sectors including manufacturing, infrastructure, real estate, tourism, retail, telecom and others. ProFinance prides itself on its commitment to quality and integrity in its dealings with clients, investors, and lenders alike.

© Press Release 2010