Head of Swiss Federal Department of Economic Affairs and Governor of DIFC attend ribbon-cutting ceremony

Switzerland-headquartered private bank hosts gala reception in Dubai

Mirabaud (Middle East) Limited provides open-architecture wealth and asset management services across Middle East and South Asia

Dubai, November 6, 2007: Mirabaud (Middle East) Limited - a wholly owned subsidiary of Mirabaud, a banking group founded in Geneva in 1819 - held a ribbon-cutting ceremony to officially open its office in the Dubai International Financial Centre (DIFC). The opening was attended by Federal Councillor Doris Leuthard, Head of Switzerland's Federal Department of Economic Affairs, and His Excellency Dr. Omar Bin Sulaiman, Governor of the DIFC. The ribbon-cutting ceremony was followed by a gala dinner hosted by the Swiss private bank.

Minister Leuthard said: "Mirabaud's introduction into the Middle East is representative of the growing ties between Switzerland and the Emirate of Dubai. We can now look forward to an increasing exchange of banking and financial expertise and ideas between our two cultures."

Pierre Mirabaud, Chairman, Swiss Bankers Association, and Senior Partner, Mirabaud & Cie, banquiers privés, said: "The aspects of the Swiss banking industry that are world-famous - privacy, strong client relationships and the highest levels of trust - are now available to clients here in the Gulf and across the Middle East. Building strong relationships with our clients has been at the core of the bank's strategy since its founding almost 200 years ago, and we look forward to forging similarly strong bonds with individuals and companies in the Middle East. I am delighted to be able to participate in the formal launch of Mirabaud (Middle East) Ltd."

Yves Mirabaud, Managing Partner, Mirabaud & Cie, banquiers privés, and President of Mirabaud (Middle East) Ltd., said: "We are confident that the high level of personalised service that clients have come to expect from leading banks in Switzerland, such as Mirabaud, will prove equally attractive in this fast-paced, high-growth region. Indeed, the historic ties linking private banks in Switzerland and high net worth individuals and companies in the Middle East will serve as the basis upon which we build even stronger relations. We are confident that Mirabaud (Middle East) Ltd. will prove uniquely capable of meeting the needs of our clients here in the region."

Gilles Rollet, Chief Executive Officer, Mirabaud (Middle East) Ltd., said: "Our open-platform architecture provides clients with the opportunity to not only make use of Mirabaud products, but also to take advantage of many of the best products available globally. Our sole aim is to provide products and services that best meet the needs of our clients - wherever they are based."

He added: "The DIFC is the ideal location for financial services institutions such as our own that seek to provide services for individuals and institutions in the Middle East. With its close proximity to the major economies of the Gulf, Central and South Asia and North Africa, we felt very strongly that Dubai, and the DIFC, was the right home for Mirabaud as we grow our operations across these diverse and rapidly emerging markets."

As an independent wealth and asset manager offering investment funds managed by both the bank and third parties, Mirabaud provides its clients with total flexibility in choosing their custodian bank, while offering competitive and transparent management costs. Mirabaud's model, developed in Switzerland, is unique to the Middle East and offers clients a very high level of personalised service.

Mirabaud, which has more than US$21 billion of assets under management, employs 450 staff worldwide, with offices in Geneva, Zurich, Basel, Paris, Monaco, London, Montreal, Nassau, Hong Kong and now Dubai.

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About Mirabaud
Mirabaud & Cie, banquiers privés, was founded in Geneva in 1819. Originally a bank operating solely in Switzerland, Mirabaud has since developed its brand on three continents. As a wealth and asset manager for international clients, Mirabaud offers tailor-made services in private banking, institutional asset management and fund management, and has more than 30 years' experience in alternative investment management, brokerage and custody. The bank, which has nearly US$20 billion of assets under management, employs more than 400 staff worldwide, with offices in Geneva, Zurich, Basel, Paris, Monaco, London, Montreal, Nassau, Hong Kong and now Dubai. For more information please visit www.mirabaud.com

For further information, please contact:
Rick Todd / Tarek Fleihan
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
T 971 (0)50 478 5324
F 971 (0)4 335 6080
E-mail: r.todd@asdaa.com / t.fleihan@asdaa.com

© Press Release 2007