SHUAA Securities Confirms Departure of Walid Shihabi

DUBAI, UAE, October 6, 2011 -

SHUAA Securities announces today that Walid Shihabi has resigned from his position as Head of SHUAA Securities to pursue other interests.

Despite the challenging market for all brokers in the UAE, SHUAA Securities is well positioned in the market and has been making good progress increasing market share and attracting institutional business.

For our clients it will be business as usual; the day-to-day operations will continue to be managed by Fozan Al Mofleh, General Manager of SHUAA Securities.

About SHUAA Capital psc:
www.shuaacapital.com

Since 1979, SHUAA Capital has played a prominent role in shaping the financial services landscape of the GCC and will continue to be at the vanguard of regional integration into global financial markets. SHUAA Capital maintains a leadership position in Investment Banking, Asset Management, Brokerage, Private Equity, Finance, and Research. Headquartered in Dubai, in the United Arab Emirates, SHUAA Capital has a regional presence with offices in Abu Dhabi, Riyadh, Jeddah, Al Khobar, Doha, Cairo and Amman. Embedded in the dynamic economic environment of the Gulf Cooperation Council, SHUAA Capital provides a broad range of financial services to corporations, governments, institutional clients, and high net worth individuals.

For English media enquiries please contact:
Oliver Schutzmann
Head of Investor Relations &
Corporate Communications
Tel: +971-4-319-9872
Mobile: +971-50-640-5722
oschutzmann@shuaacapital.com

For Arabic media enquiries please contact:
Tarek S. Fleihan
Assistant Vice President
Corporate Communications
Tel: +971-4-319-9874
Mobile: +971-50-708-0571
tfleihan@shuaacapital.com

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