MerchantBridge Seals US$20 Million Hospitality Deal With Monaco Luxury Hotels & Resorts

DUBAI, UAE, August 10, 2010 - MerchantBridge, the direct investment and private equity
company, signed and agreed terms to invest in Monaco Luxury Hotels & Resorts
(MLH&R) in a $20 million transaction.

This is the second investment by MerchantBridge this year,
following its successful acquisition of the 15-year lease of the Kerbala
Cement Plant in conjunction with Lafarge and further showing the firm's
ability to take advantage of attractive market opportunities in both the
Middle East and the West.

MerchantBridge has completed 9 private equity transactions in
North America, Europe, and the Middle East over the past 5 years. Over the
years, MerchantBridge has formed a number of joint ventures or partnerships
on specific transactions with leading regional groups such as Marriott, Qtel,
Lafarge, Macquarie and Qatar National Bank.

MLH&R was founded in 2006 by the Torriani family as a hotel management
company with a core emphasis on the niche market of luxury hotels in the 4
star boutique and 5 star deluxe categories. As part of its portfolio MHL&R is
a major investor in the Ritz Carlton Montreal.

MLH&R is currently working on a substantial CAD$ 150m renovation of the
Ritz Carlton Montreal hotel.

The Ritz Carlton Montreal is a historic landmark in the city of Montreal
which enjoys full political and local support. As part of the renovation,
hotel rooms will be reduced from 229 to 130 rooms with significant
refurbishment, and construction of 46 new condos branded "Ritz Carlton
Residences".

MerchantBridge proudly adds this deal to their hospitality track record,
following the successful development and sale of the 120-room Diyafa Hotel in
Al-Khobar, Kingdom of Saudi Arabia back in 2006, with Marriott Courtyard.

Mr. Basil Al-Rahim, MerchantBridge Group Chief Executive
Officer, said today: "investments in the hospitality sector today are ideal
for investors, as the real estate market still represents significant
opportunities. We continue to look for more promising deals. MerchantBridge
is also exploring other opportunities in hospitality in Europe and are in
talks with some of the major hotel groups globally."

Mr. Ameen Killidar, MerchantBridge Managing Director, added: "The luxury
hospitality sector is in need for further investment. In Europe and North
America, the number of new luxury hotels built decreased by more than 20% in
the first half of 2010, when compared with the same period in 2008. At the
same time, occupancy rates at luxury hotels in Europe and North America
increased by an average of 12%. We see this as an ideal opportunity for us,
where we can see long-term value being created through addressing current and
future supply/demand gaps."

Notes to Editors:

About MerchantBridge:

MerchantBridge is a direct investment and private equity group
established over a decade ago by a group of industry veterans focused on the
Middle East and Europe regions. It is authorised and regulated by the FSA in
London and has offices in Dubai, Baghdad, Basra and Riyadh. MerchantBridge
also offers corporate finance advisory services in select situations to
multinational corporations and governments such as the UK Ministry of Defence
on their offset program in Saudi Arabia. MerchantBridge completed 9 private
equity transactions in Europe and the Middle East over the past five years
with US$400 million in committed capital and investments with Enterprise
Value of over US$$3 billion. www.merchant-bridge.com

    For more information please contact:

    Middle East Calls
    Mary Khamasmieh - M: Communications
    Mob: +971-50-273-1753
    Email: khamasmieh@mcomgroup.com

    International Calls
    Samantha Bartel Al Khalaf - M: Communications
    Mob: +971-50-657-5405
    Email: bartel@mcomgroup.com

For more information please contact: Middle East Calls, Mary Khamasmieh - M: Communications, Mob: +971-50-273-1753, Email: khamasmieh at mcomgroup.com; International Calls, Samantha Bartel Al Khalaf - M: Communications, Mob: +971-50-657-5405, Email: bartel at mcomgroup.com