Istithmar Expands International Footprint with the Opening of a New Office in The People's Republic of China

Istithmar Expands International Footprint with the Opening of a New Office in The People's Republic of China

November 08, 2007

Office in Shanghai to bolster market and industry insights
for M&A transactions


    DUBAI, United Arab Emirates, Nov. 8 /Xinhua-PRNewswire/
-- Istithmar, the leading private equity and alternative
investment house headquartered in Dubai, United Arab
Emirates (UAE), has bolstered its international presence
with the opening of a new office in Shanghai, The People's
Republic of China. 

    ( Logo:
http://www.newscom.com/cgi-bin/prnh/20070805/268060 )

    The formal set-up of Istithmar in China represents the
firm's first official international foray outside the UAE.
In addition to targeting untapped opportunities in one of
the world's key emerging markets, this move also signifies
a major step forward in Istithmar's growth plans, and
heralds the beginning of its expansion in prominent cities
around the globe. 

    Khaled Al Kamda, Vice Chairman, Istithmar, said:
"The opening of our office in Shanghai is a
significant milestone in the corporate development of
Istithmar: it underscores the strong Sino-Arab economical
and political relations between the two regions; and
demonstrates a major step forward in our international
expansion plans. Given the immense growth in China, as well
as key markets in Asia-Pacific, we are confident that a
formal presence will serve as a strategic springboard in
terms of sourcing for the best opportunities that add value
to our investment portfolio."

    David Jackson, Chief Executive Officer, Istithmar,
said: "Istithmar has been experiencing phenomenal
growth since its inception. Given our track record of
striking significant investments on the international
platform with precision, we believe a permanent ground
presence in China will provide greater proximity to
opportunities and developments in a rapidly developing
Asia. This only serves to enhance and deepen our team's
insights in our core expertise in the financial, consumer
and industrial sectors. China is a true emerging market
with strong potential for growth, and we are confident that
our local presence will stand us in good stead in our quest
for premium investments across all sectors."

    Prior to this formal set-up, Istithmar's earlier
engagement with China had taken the form of a strategic
acquisition of a 9.91% stake in Hans Energy Company
Limited, the largest independent operator in the terminal
and storage industry for oil and chemical products in South
China. This investment had marked a significant milestone
for Istithmar's investment strategy in China, underscoring
the firm's confidence in the Chinese market. 

    Istithmar's office in Shanghai will be spearheaded by
Mr. Gable Gao, Managing Director, and Ms. Jane Shao,
Managing Director. Having worked in the investment banking
arena since 1994 and 1995, Mr. Gao and Ms. Shao bring
together a plethora of expertise in this sector. Mr. Gao
joined Istithmar in 2006 and had previously worked for
Dexia Credit Local, WestLB and Chase Securities Inc. in New
York. Ms. Shao also joined Istithmar in 2006 and had
previously worked for Chase Securities, CSFB and JP Morgan
in New York, Hong Kong and Beijing.

    About Istithmar:

    Istithmar is a private equity and alternative
investment house headquartered in Dubai, the United Arab
Emirates, with an office in Shanghai. Established in 2003,
it is 100% owned by Dubai World which in turn is wholly
owned by the Government of Dubai. In the three years since
its inception, Istithmar has invested in over 35 companies
in three sectors -- consumer, industrial and financial
services -- deploying in excess of $3 billion of capital.
Istithmar's 'I' Investment Philosophy is based around three
core principles -- Ideas, Inquiry and Integrity -- and is
the foundation on which the firm has established a broad
portfolio of highly successful investments in the markets
from North America and Europe to Asia and the Middle East.


    http://www.istithmar.ae 



    For further information, please contact:

     Hwee-Suan Ong or Mohamed Tahboub
     BPG Public Relations,
     Tel:   [phone] 
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