Manama, - Bahrain, 12 December 2007: Marina Durrat Al Bahrain Company a prominent real estate development company in Bahrain and the developer of the Marina Durrat Al Bahrain beach front project, today announced it has strengthened its executive directorship team by appointing Mr. Othman Janahi as its Chief Investment Officer.

Mr. Janahi has to his credit over 15 years experience in investment and banking services which he gained from his service to a number of financial institutions in Bahrain. He served in various capacities, including Corporate financing, Structured Finance, Risk management; and Treasury and Investment.

Commenting on the new appointment, Mr. Ahmed Al Qattan, Marina Durrat Al Bahrain board member, said: "Mr. Janahi has great wealth of experience in investment and finance. Coupled with his working experience by means of his long years of service in the region, he is undoubtedly a great addition to the company's executive management team. We believe he will bring more benefit to Marina Durrat Al Bahrain Company, particularly in terms of investment and finance."

In his statement, Mr. Janahi said: "I'm very pleased and honoured to be part of a professional team that is exerting all its efforts to ensure improvement of work in this company. I hope I would be able to live up to the expectations of the company's Board Members. I promise to safeguard the interest of the company to ensure that it remained always at a stronger position."

The Marina Durrat Al Bahrain, which will occupy an area of about 600,000 square metres at a total cost of about USD1.3 billion, is the biggest of its kind in the Kingdom.

Arguably one of the leading housing projects in the Gulf region, The Marina Durrat Al Bahrain is being developed by the Gulf Construction Company (Tameer), which owns 60% of the project, while Durrat Al-Bahrain owns the remaining 40% of the stakes.

The project, which has been planned to be the most beautiful and luxurious marina in the Gulf region, will have all kinds of state-of-the-art equipment and luxuries, including the ability to accommodate 400 luxurious boats.

Consisting of 4,000 housing units, the project will have all the necessary amenities and first class facilities including a chain of first class restaurants, cafeterias, shopping malls, gyms, spas and other facilities that will make it one of the best tourist attractions in the world

Until his new appointment, Mr. Janahi had also served in various capacities in a number of big institutions, the latest of them being the Chief Financial Officer at the AAJ Holdings Company. His most significant achievements include his successful negotiation of a BBB- rated Bond Structure of USD 925 million for the construction of phase 1 of the Blue City project in Oman.

Earlier in his professional career, Mr. Janahi has also served in the Shamil Bank, Bank of Bahrain and Kuwait (BBK), and National Bank of Bahrain.

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© Press Release 2007