GSH establishes UK subsidiary, Richard Thomas appointed Managing Director

Kuwait, March 24, 2007: GSH yesterday announced the establishment of GSH (UK) Ltd in order to maximize on the rapid developments in the UK in all spheres of international Islamic Financial Services. The subsidiary will exist to provide the group and its clients direct access to the well-established UK real estate and financial market.

Richard Thomas, a leader in Shariah compliant finance with extensive experience in the Middle East, has been appointed Managing Director of GSH UK.

The company will provide corporate finance services and Sukuk issuance and trading, as well as advisory and consultancy services, and to assist in the creation of investment funds and direct investment opportunities. GSH UK will also be well-placed to offer these services to institutional clients, banks and financial institutions in Europe and the Middle East.

Commenting on this announcement, CEO of GSH Fahed Boodai stated, "We are very excited and proud of the launch of GSH UK, particularly since it will be led by Mr. Richard Thomas, a pioneer and veteran of Shariah compliant finance. GSH UK is an important part of our vision to expand our presence in the global market by having on-the-ground representation in London, one of the most important financial capitals of the world."

"The formation of GSH UK will enable us, along with our other subsidiaries, GSH France and GSH U.S., to have a larger global presence and to continue our commitment to seek and realize for our clients exceptional investment opportunities," he continued.

Boodai elaborated on the appointment of Thomas, adding, "We have the utmost confidence that his extensive experience with Shariah compliant finance makes him the perfect person for the job."

Thomas is a veteran in the field of Shariah compliant finance, with over 28 years of experience in companies such as Saudi International Bank and the United Bank of Kuwait. Prior to joining GSH to form GSH UK, Thomas was Head of Islamic Financial Services at the Arab Banking Corporation in London (ABCIB) and CEO of ABCIB Islamic Asset Management and alburaq.

In addition to his position at GSH UK, Thomas is also a member of the UKTI Financial Services Sector Advisory Board where he chairs the Sub-Committee on Islamic Financial Services and advises on Corporate Governance oversight for the Institute of Islamic Banking & Insurance (IIBI). Professor Mahmoud Farooqui, Vice Chair of the IIBI, recently described Thomas "as probably now the City's senior most Islamic finance practitioner".

-Ends-

GSH is an international investment advisory firm based in Kuwait. It structures, manages, and monitors innovative and exceptional global real estate and investment products on behalf of its investors. GSH has extensive experience in global real estate investments, having structured and realized significant transactions in the US, UK, and France, far exceeding investment return projections.

GSH is a subsidiary of the Securities House K.S.C.C.

For more information:
EPR
Noha Al-Awadi,
Tel: +965 241 3617/8
Fax: +965 241 3619
email: noha@epr-online.com