Dubai, Aug. 2, 2007 (WAM) -- ARTOC Group, one of the Middle Eastregion's largest multi-disciplined investment conglomerates, has investedUS$10 million in the US$100 million Centre of Excellence for Applied Research and Training (CERT) Innovations Fund which invests in the UAEand Gulf's evolving technology, healthcare and education sectors.

CERT is the largest private education provider in the Middle East andis also the largest MENA region investor in the discovery and commercializationof technology, investing US$35 million in 2006.

CORECAP, financial advisor to CERT, the commercial arm of the Higher Colleges of Technology in the UAE, announced that Mohamed Shafik Gabr,ARTOC Chairman and managing director, has also joined the Board of CERTCapital, which is chaired by Sheikh Nahayan Mubarak Al Nahyan, Ministerof Higher Education and Scientific Research, and vice chaired by Dr. TayebKamali, Vice Chancellor, Higher Colleges of Technology.

Both Sheikh Al Nahyan and Dr. Kamali are widely regarded as themain architects of progressive initiatives in the Gulf's investment andeconomic sectors.

"Our partnership with an outstanding institution such as ARTOC Group andMohamed Shafik Gabr's appointment to the Board give further substanceto H.E. Sheikh Al Nahyan's revolutionary vision to develop the education,healthcare and technology sectors in the UAE and the Gulf," Dr. Kamalisaid in a comment on the investment.

Khaled Hassan Rashed, CORECAP CEO, expressed great delight on the newdevelopment. "We are pleased to welcome ARTOC Group as one of CERT Innovations' lead investors. Their commitment demonstrates that the fundis a compelling investment opportunity in the private equity landscape,one of the fastest growing asset classes globally," he said, adding thatthe partnership with ARTOC is a prime example of established public andprivate sector players working together towards the goal of developingthe regional economies.

Also passing comment on the investment, Mohammed Shafik Gabr saidCERT provides investors with a great opportunity to participate in theongoing economic growth and long-term development of the MENA region.

"The organization's track record and institutional structure proved attractiveto ARTOC and we look forward to accelerating its future development whilecementing our strategic partnership," he added.