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Date: 05/12/2008

BMB Group announces enhanced Middle East commitment with major investment

BMB Group announces a dramatically increased commitment in the Middle East following the absorption of EMP Global, the world's largest private equity house dedicated to emerging markets. The combined group will represent one of the world's leading alternative asset management houses, with assets in excess of $12 billion.

Rayo Withanage, Chairman of BMB Group said: "We are excited about the global leadership role the Middle East will play in the new global economy. This transaction is in line with BMB's stated strategy, we see this time as an unprecedented opportunity for Eastern financial services players to capture global market positions."

EMP's US operation will continue to run independently, managing existing private equity funds for corporations and governments. The offshore business of EMP will become BMB Emerging Markets which will launch a powerful slate of direct investment funds around the world focused on energy, infrastructure and financial services.