Unicorn Investment Bank

Unicorn Investment Bank announces successful sale of Orimix Concrete Products LLC from Private Equity Fund

Manama, Thursday 10 July 2008: Unicorn Investment Bank B.S.C. (c) (Unicorn) announces the disposal of its shares in Orimix Concrete Products LLC (Orimix), an investment held in its private equity fund, the Unicorn Global Private Equity Fund I.

The fund acquired a controlling stake in Orimix in November 2006 for a price of $17.2 million and sold it recently for $44.9 million to Al Safat Investment Company, a Kuwait listed investment group. This represents a return on capital of 160% and an Internal Rate of Return (IRR) of 98%.

Commenting on the sale, Aamir Khan, Managing Director of Global Private Equity at Unicorn, said: “The increase in value we achieved with Orimix demonstrates the success of Unicorn’s private equity business model. Our team worked closely with the management of Orimix to almost double it in size, by expanding capacity and improving profitability. The sale of this single investment has allowed us to distribute over 50% of the Fund’s initial invested capital to Unit holders in less than two years.”

The Unicorn Global Private Equity Fund I was established in 2006 and is regulated by the Central Bank of Bahrain. To date, the fund has made investments in middle-market companies based in Bahrain, Jordan, the United Arab Emirates, Kuwait and the United States.