Osool & Bakheet Investment Company (OBIC), a CMA licensed financial institution, launched a unique Investment Fund called “Osool & Bakheet IPO fund”. “It is a distinctive type of investment program, as the fund invests in Initial Public Offerings stocks and aims to benefit unit holders from the “Book Building” process (where the financial advisor of the company being proposed for public offering, offers its stocks first to investment funds). The fund may also invest in stocks of publicly traded companies during their first year of listing only”. Said Mr. Beshr Bakheet, CEO and Chairman of the group.

“After the exceptional success of Osool & Bakheet Saudi Trading Equity Fund, we present our second fund specializing in the Saudi stock market which reflects our positive outlook on the local market. The timing of the launch is ideal since it is expected that the IPO market will witness considerable activity in the near future. The fund will benefit from daily valuation, while subscription to and redemption from the fund will be executed on a monthly basis, due to the logistics of operating an IPO fund” noted Mr. Hisham Abu Jamee, Head of Asset management at OBIC.

The unit price will be set at SAR 1 (one Saudi Riyal) during the offering period which will begin on the 23rd of SAFAR 1429H corresponding to the 1st of MARCH 2008 and will end on the 7th of RABI’I 1429H corresponding to the 15th of MARCH 2008. Subscription will be open to all investors. Minimum subscription is set to SAR 10,000 (Ten Thousand Saudi Riyals), in an effort to offer OBIC clients the chance to participate in the promising IPO market.

For More information you can call us at +966(11) 419-1797. You may wish to visit our website at:www.obic.com.sa

Safar 1429 – February 2008