Leading regional investment bank announces Senior Additions to its Private Equity Team

Dubai, UAE, July 8, 2008 - Leading regional investment bank EFG-Hermes announces the recent addition of three senior executives from Goldman Sachs to the leadership team of its private equity business. These additions underline the importance of private equity as one of EFG-Hermes' core growth engines moving forward. The newly appointed team members are Hazem Shawki, Kashif Siddiqui and Walid Zein, all joining EFG-Hermes Private Equity as Managing Partners based out of Dubai and Cairo.

The three executives bring with them a wealth of regional and international experience from their tenure at Goldman Sachs.  Hazem Shawki served as a Managing Director in the Investment Banking division, most recently responsible for some of the firm's key relationships in the Middle East.  Kashif Siddiqui was Executive Director in the Investment Banking division and for the last two years in the Institutional Securities division, responsible for a proprietary portfolio of private and public investments. Walid Zein served as an Executive Director in the Investment Banking division, with coverage and execution responsibility for clients in the emerging markets and more particularly in the Middle East and Africa. Hazem, Kashif and Walid have been working together for more than six years in their various roles at Goldman Sachs.

The team's mandate is to leverage EFG-Hermes Private Equity's experience and unmatched track record in Egypt and provide investors exposure to this attractive asset class on a regional basis. This will allow the team to build on EFG-Hermes continued growth and success in the Middle East and North Africa.

Yasser El-Mallawany, CEO of EFG-Hermes and Chairman of EFG-Hermes Private Equity, said "With a 10 year track record and an excess of 120 investments and over 50 realisations to date, EFG-Hermes Private Equity is one of the most successful private equity players in Egypt.  I am delighted that Hazem, Kashif and Walid have joined our team and I am confident that their combined expertise and experience will accelerate our development in this key growth area".

Hassan Heikal, CEO of EFG-Hermes added "The addition of this group of highly talented colleagues fits neatly with our plans to expand our reach and will lead our development in the region."

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About EFG-Hermes Private Equity
EFG-Hermes Private Equity is one of the leading private equity firms in the MENA region in terms of assets under management. With over a decade of experience and in-depth expertise in a multitude of sectors it offers unique alternative investment opportunities for institutional investors and high net worth individuals

Currently EFG-Hermes Private Equity manages five funds, both general and industry specific, with total assets under management exceeding US$ 1 billion.

For more information on EFG-Hermes please visit www.efg-hermes.com, or contact:
Preeti Bhandarkar                                                    
Hill & Knowlton UAE                                    
preeti.bhandarkar@hillandknowlton.com                      
Tel: +971 4 334 4930                                                 

Charly Capper                       
EFG-Hermes
ccapper@efg-hermes.com
+971 4 363 4054

© Press Release 2008