NEWS ROOM

Euromoney names ADDAX Bank "Best Real Estate Investment Bank In Bahrain"

Date : 27 October 2007

At a gala dinner in London, Euromoney announced the winners of its Liquid Real Estate Awards – the prestigious awards in global real estate.

The winner of Liquid Real Estate’s “Best Investment Bank in Bahrain” and “Best Bank for Equity Services in Bahrain” for 2007 was Addax Bank. On this occasion Yousef Al Essa, CEO, Addax Bank said, “It is an honour to be singled out by Euromoney for our efforts in the real estate sector.

Addax Bank prides itself on its track record of bringing unique, lucrative, real estate opportunities to our clients.” In recent years Addax has played a key role in the sourcing, structuring and placement of several, high-profile, regional real estate projects. Al-Essa added, “Through our collaboration with Express by Holiday Inn, Addax introduced the concept of the ‘branded budget hotels’ to the Middle East region.” The Express by Holiday Inn transaction established the first company to develop a chain of budget hotel under one brand in 6 countries in the region. The first Express by Holiday Inn opened earlier this year in Dubai. In another first for the region’s hospitality sector Addax launched “Nuzul Holdings” in collaboration with the Ascott Group of Singapore to acquire and manage a chain of serviced residences throughout the Middle East.

The first property opened in Bahrain earlier this year and the second will open in Doha before the year end. Euromoney, the world’s leading financial markets magazine, recently launched Liquid Real Estate magazine to cover the global developments in real estate finance and capital markets. Simon Brady, Managing Director of Euromoney, said: “Real estate is no longer the domestic business it once was. Advisors and investment banks are devising sophisticated new vehicles to meet demand from investors and fund major new developments. The institutions that stood out from the crowd are those that exhibited the ability to adapt to the changes in global real estate finance.” Subscribers to Euromoney and Liquid Real Estate can access all of the awards and citations online at www.euromoney.com.

About Addax Bank Addax Bank was formed in 2003 and has been involved in a number of high profile deals in the region. Addax Bank’s landmark deals include: oThe structuring and placement of the US$ 150 million deal to finance 20 Express by Holiday Inn hotels across six countries in the GCC oParticipation with Dubai International Capital and other lead investors in creating JD Capital, a US$300 million company targeting investment opportunities in Jordan. The launch of Nuzul Holdings, in collaboration with The Ascott Group of Singapore, to acquire and manage a chain of serviced residences throughout the Middle East and North Africa.

The launch of Addax Media BSC- Addax Media is a holding company that focuses on investing in innovative, high-quality media productions. Addax Media’s first production “Khalid Bin Waleed” was aired on 6 channels including MBC and Dubai Television during Ramadan 2006. The launch of Addax Education Holdings (AEH), a holding company, established in partnership with a team of education and private equity professionals to invest and manage education and education related businesses across the GCC, Middle East and North Africa. The launch of Addax Capital in the Kingdom of Saudi Arabia. oThe placement of a US$ 50 million deal capital raise fund the expansion of Eos Airlines, a premium flight airline serving the transatlantic travel market. Awards won in 2007 include: “Best New Bank” in 2007 by Banker Middle East oEuromoney, the world’s leading financial markets magazine, recently launched the Liquid Real Estate Awards to cover the global developments in real estate finance and capital markets. Addax Bank won both ‘Best Investment Bank in Bahrain’ and ‘Best Bank for Equity Services in Bahrain’ for 2007 for its outstanding contribution to global real estate finance.