Fund offered through a Credit Suisse SICAV-SIF structure

Riyadh, October 5, 2010: Al Rajhi Capital, the investment-banking subsidiary of Al Rajhi Bank and a leading asset manager in the Kingdom of Saudi Arabia, announced the launch of the Al Rajhi Saudi Equity Fund, a Specialized Investment Fund (SIF) established under Luxembourg law.

The open-ended, Shariah-compliant fund offers international investors access to Saudi Arabia's Stock Market, which is the largest in the Middle East and North Africa (MENA) region with a market capitalization of approximately USD 336 billion. It is also among the fastest growing markets having gone from only 62 listed companies four years ago to approximately 146 listed companies today.

The Fund will be offered to investors through Credit Suisse's Expert Investor SICAV-SIF and overseen by Luxembourg's regulatory authority, the Commission de Surveillance du Secteur Financier. It is targeted at professional, institutional and other well-informed investors across Europe and the Middle East.

The Al Rajhi Saudi Equity Fund's objective is to achieve long-term capital appreciation by primarily investing in Shariah-compliant stocks listed on the Saudi Arabian Stock Market as well as to deliver a rate of growth in line with that of the benchmark, S&P Saudi Shariah Index.

In doing so, the Fund will invest in the existing Al Rajhi Local Shares Fund, regulated by the Saudi Arabian Capital Market Authority, which has been among the top performing local funds in the Kingdom and underscores Al Rajhi Capital's position as a leading asset manager in Saudi Arabia.

Through investments in the Al Rajhi Saudi Equity Fund, foreign investors will be given frontline access to listed companies in Saudi Arabia, the MENA region's largest economy. This includes the world's largest oil & petrochemical companies, with Saudi Arabia possessing more than 20% of proven global petroleum reserves and ranking as the single largest exporter of petroleum. The Fund will also provide exposure to companies in other rapidly developing sectors of the Saudi Arabian economy including financial services and cement among others.

Commenting on the Fund's launch, Gaurav Shah, CEO designate of Al Rajhi Capital, said: "We are delighted to now offer a wider international audience the chance to invest in the Saudi Arabian equity market through a liquid, transparent and well regulated investment vehicle. There is a growing appetite for Saudi shares among global investors and Al Rajhi Capital's Saudi Equity Fund, a subfund of the Expert Investor SICAV-SIF, will allow access to the market."

He continued: "The strength of the Saudi Arabian economy and its ongoing growth and diversification continue to create significant opportunities for Saudi companies and investors. Leveraging Al Rajhi Capital's deep insight and local market expertise, we believe the Fund will effectively capitalize on anticipated growth and provide a unique opportunity for investors seeking long-term capital appreciation and exposure to one of the world's most important and rapidly developing economies."

The Fund's net asset value (NAV) will be reported on a weekly basis and the first valuation was conducted on 27 September 2010.

More information about Al Rajhi Saudi Equity Fund and Al Rajhi Capital Local Shares Fund can be found on its website (www.alrajhi-capital.com). Al Rajhi Capital manages more than USD 3 billion in local, regional, international equity and money market funds.

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About Al Rajhi Capital:
Al Rajhi Capital Company is the independent, wholly owned investment subsidiary of Al Rajhi Bank, the world's largest Islamic bank and the largest commercial bank in the GCC region in terms of market capitalization.

Headquartered in Riyadh, Al Rajhi Capital is a Limited Liability company organized and existing under the laws and regulations of Saudi Arabia and operates under the Authorized Persons Regulations with license number 07068-37 granted by the Capital Market Authority and provides securities-related services, including brokerage, asset management, arranging, underwriting, advisory and custodial services. All businesses of Al Rajhi Capital are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.

For media inquiries, please contact:
FinMark Communications, GCC
Mahmood Mohammed
T: +973 770 22 550 / M: +973 39630997

FinMark Communications, UK
T: +44 (0) 20 7887 7869 / M: +44 770 333 0024

Al Rajhi Capital, Riyadh
Habib Choueifaty
T: +966 1 211 9419 / F: +966 1 211 9299

© Press Release 2010