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Gulf Capital and Amwal AlKhaleej Lead a Consortium of Investors that Sells Maritime Industrial Services to Lamprell for US$ $336 Million

Successful growth, turnaround and sale of the business to a strategic trade buyer is a strong case study for the regional private equity industry.
(Abu Dhabi, 17^th July 2011) - Gulf Capital and Amwal AlKhaleej , two leading Middle Eastern Alternative Investment firms, announced today the successful completion of the sale of their portfolio company, Maritime Industrial Services ("MIS") to a regional trade buyer, Lamprell which is listed on the London Stock Exchange. The MIS sale of 100% of the company for US$ 336 million caps an almost five year holding period by both firms during which revenues and profits were increased by 203% and 184% respectively.

Commenting on the successful sale, Dr Karim El Solh, co-Founder and Chief Executive Officer of Gulf Capital said: "MIS represents a solid case study for the Middle Eastern private equity industry. This is a good example of how private equity firms can add real value to their portfolio companies by growing operations, bringing in new management leadership, executing bolt-on acquisitions, launching regional and product expansions, paying down debt and boosting profitability ahead of consummating a successful sale to a trade buyer. As the largest investor in MIS, Gulf Capital was proud to be associated with this Company and to contribute to its rapid growth and subsequent profitable sale. We are confident that MIS will continue to grow and thrive under the stewardship and ownership of Lamprell ."

Mr. Ammar Al Khudairy, Managing Partner of Amwal AlKhaleej added: "The successful sale of the Company and our ability to generate such a level of returns despite the difficult economic environment and the unfavorable vintage year for the investment highlight the resilience and appeal of certain industries to private equity in our region. Furthermore, this transaction is a good example of how two private equity firms supported by strong management teams and a supporting and active board, can harmoniously co-invest, grow and successfully structure an exit aligning the interest of all stakeholders."

Mr. Richard Dallas, Managing Director of Private Equity at Gulf Capital said: "Following the record profits announced in 2010, Gulf Capital and Amwal AlKhaleej in partnership with the MIS Board and Management initiated the approach and subsequent trade sale to Lamprell . This transaction is a good example of how a strategic trade buyer can come in and make an offer to acquire the entire company at a substantial premium in order to benefit from increased synergies, higher market share and product expansion. As the regional private equity industry matures, we expect further trade sales of portfolio companies to strategic trade buyers."

Mr. Fadi Arbid, CEO of Amwal AlKhaleej concluded "We are pleased to announce the conclusion of our fruitful collaboration and work with Gulf Capital on our joint portfolio company, MIS, along with the companies' original founders and its senior management. This is the first exit of our second partnership, Amwal II that vindicates our investment discipline despite an unfavorable investment cycle for Private Equity, and demonstrates the resilience of our portfolio despite a challenging economic and now political environment. We are also confident that with the support of Lamprell , MIS will be better positioned to embark in its new development phase."

-Ends-

About Gulf Capital :
Gulf Capital is a leading alternative investment company focused primarily on investing in the growing GCC region. Incorporated in Abu Dhabi in 2006 as a Private Joint Stock Company, Gulf Capital was established with a capital base of AED 1.225 billion (USD 330 million) from 300 of the most prestigious institutional and individual investors in the Gulf. The Firm is currently investing its GC Equity Partners II Fund of $533 million raised from regional and global institutions. Gulf Capital is focused on acquiring sizeable and strategic stakes in highly profitable and rapidly growing companies within a select number of fast-growing industries in the GCC and surrounding countries. With a number of alternative investment initiatives such as private equity, real estate and credit, Gulf Capital is rapidly emerging as a leader in the field of alternative investments in the Middle East.

www.gulfcapital.com

About Amwal Al Khaleej:
Amwal AlKhaleej is a leading alternative investment firm with approximately USD 700 million of assets under management. The Firm started its operations in 2005 in Riyadh with offices in Dubai and Cairo and its team includes some of the most experienced investment professionals in the region. The Firm has investments in several high calibre companies including Rowad Schools, Gulf Insulation Group, Maritime Industrial Services , Arab Cotton Ginning, Al-Tayyar Travel Group, Dubai Contracting Group and Contact Cars.

www.amwalalkhaleej.com

Issued by Borouj Consulting and GolinHarris PR Agency on behalf of Gulf Capital and Amwal AlKhaleej .

For more information, please contact: Randa Mazzawi at Tel: +9714 3403005, e-mail: randa@boroujconsulting.com, Riham Osama at Tel: +971 50 5529872, e-mail: riham@boroujconsulting.com or Nadia Ejaz, GolinHarris - Dubai, Tel: + 971 4 3323308, e-mail: nejaz@golinharris.com

© Press Release 2011