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Two new Directors elected to Investcorp Board

Bahrain: Wednesday, September 29 - 2004 @ 15:56

The Investcorp Chairman, His Excellency Abdul-Rahman Salim Al-Ateeqi, welcomed them to the Investcorp Board: “This Board plays a vital role in leading, guiding and supporting this Firm. We are honoured to be joined by two such highly distinguished figures from the corporate and financial fields, who will bring their invaluable knowledge and experience to our Board.”

Investcorp’s President and Chief Executive Officer, Mr. Nemir Kirdar, also welcomed the new Directors: “The addition of these eminent gentlemen to our Board comes at a time of accelerating momentum for this Firm. Investcorp recently announced strong profits for the fiscal year ended June 30, 2004 and is looking to capitalise on its strengths to continue to build the Firm and deliver superior performance to its clients and shareholders.”

Mr. Khalaf bin Ahmed Al Otaiba is Chairman and General Manager of Abu Dhabi National Insurance Company (ADNIC). He is a founding shareholder of ADNIC, which is the largest insurance company in the United Arab Emirates. Mr. Al Otaiba is also Vice Chairman of the National Bank of Abu Dhabi, of which he is also a founding shareholder. He was the first UAE Minister of the Economy in the early 1970s at the creation of the Federation, and has also served in the Consultative Council.

Mr. Farouk Yousuf Khalil Almoayyed is Chairman of Y K Almoayyed & Sons BSC, of Almoayyed Contracting and of the Almoayyed International Group. He is also Chairman of Bahrain Duty Free Shop Complex, of Ashrafs, of Bahrain Hotels Co (Gulf Hotel) and of Dar Alwasat for Publishing and Distribution (Al Wasat newspaper). He is Chairman of the Board of Trustees of Ibn Khuldoon School, Deputy Chairman of the National Bank of Bahrain and a Director of Gulf Union Insurance and Reinsurance Co BSC.

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Wednesday, September 29- 2004 @ 15:56 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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