Dubai, United Arab Emirates - 4 November 2007 - Injazat Technology Fund (ITF), the premier private equity fund specialising in Information and Communication Technology investments in the MENA region, has exited its investment in Atos Origin Middle East (AOME) through the sale of the company to HP, achieving a significant internal rate of return (IRR) of 75 percent.

ITF invested in AOME less than a year ago, providing support to the local management team's successful buyout of Atos Origin France's Middle East Operations Division. Injazat, with co-investors, acquired a 19 percent stake in the company and marked the region's first technology management buyout.

"Atos Origin Middle East provide strong indication about the growth potential of regional players and the attractiveness of the sector to international IT companies like HP and others," said Rami Bazzi, Principal - Private Equity at Injazat Capital Limited. "Considering the company's performance over the last years and the strong commitment of its management team, we strongly believed that it was just a matter of time before AOME appeared on the radar of major international corporations."

AOME is the largest system integrator in the Middle East with revenue forecast estimated around USD130 million for 2007. AOME focuses on the oil and gas, telecom and security sectors, having clients such as Saudi Aramco, Qatar E-Government, STC, Batelco and Emirates Airlines, among others. "The sale was a natural progression from AOME's previous collaborations with HP," said Ferras Zalt, AOME's Chief Executive Officer. "AOME also benefited from sound planning and the forging of strategic partnerships with various industry stakeholders."

Injazat Technology Fund's investment in AOME highlights commitment to investing in high growth companies and working with skilled and experienced professional management teams to reinforce the development of the region's information technology industry and provide attractive returns to its investors. Since Injazat Technology Fund's investment in AOME, the company had proven its ability to design, deploy and support large-scale enterprise resource planning systems. The company also played a strategic role in bringing new technologies into the region.

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About Injazat Technology Fund
Injazat Technology Fund is a USD 50 million private equity fund that operates in compliance with Shari'a principles and targets technology companies in the region. ITF provides financial and practical support to companies to maximise investor returns, reduce risks by investing in a diversified portfolio and participate in the development of the IT market in the region. The Fund is managed by Injazat Capital Ltd, one of the region's leading investment firms specialising in management buyouts, private equity and venture capital funds.

Injazat Capital Limited is regulated by Dubai Financial Services Authority.

About AOME
AOME was formed in 2006 after French information technology services group Atos Origin divested its Middle East operation to local management. AOME offers a full range of IT services from system design and integration to managing outsourced IT operations. Covering 19 countries, with more than 500 personnel and dedicated to over 50 large projects throughout the Middle East, AOME is the largest Consulting and Integration Partner in the region.

For More Information, press only:
Rania Chidiac
Marketing Manager
Injazat Capital Limited 
Tel: +971 (4) 3651500. 
Email: rchidiac@injazatcapital.com

Ellie Thompson
Account Director
Hill & Knowlton
P: +971 4 33 44 930
M: +971 50 625 7260
Ellie.thompson@hillandknowlton.com

© Press Release 2007