UAE, Egypt investors to benefit from new trading platform

Abu Dhabi, Aug 13, 2008 (WAM)- The investors in the UAE as well as Egypt can now buy and sell securities, on each other's stock markets, as Abu Dhabi Financial Services a subsidiary of NBAD has acquired a brokerage firm in Egypt.

The Egyptian Capital Markets Authority and the Egyptian Stock
Exchange has given approval to ADFS's acquisition of Al Salam Brokerage's 70
per cent interest which will help setting up a mechanism to facilitate the
trading.

The new partnership which emerged after the acquisition will have
multifaceted benefits to the investors including quick and responsive
execution of multi-market orders in different currencies through only one
broker at any of the NBAD branch networks in the UAE and Egypt alike, said
Khaled Abdel Rahman, executive general manager of ADFS.

He said that it also entail the diversification of the investment portfolios
minimising investment risks besides cross selling invoking new channels of
marketing.

"The acquisition transaction comprising 350,000 shares about 70 per cent of
Al Salam's Brokerage paid up capital was successfully executed in the
Egyptian Stock Exchange in favour of Abu Dhabi Financial Services, a
subsidiary of NBAD on Monday ", a spokesman of NBAD said.

This acquisition highlights ADFS's perseverance and continuous impetus in
improving services offered for our distinguished clients, and it is to be
considered a first step towards the fulfilment of a wider scope of
development including the modernisation of our IT infrastructure,
enhancement of the company's Human Resources and additional regional and
international expansion.

ADFS, remains at course gradually fulfilling its expansion strategy plans in
those markets deemed pivotal by way of acquisition and establishment or
strategic alliances with reputable and influential institutions well vested
in the capital markets of those countries.