The Family Shari'ah Fund Limited has just announced the completion of a successful US$31.55 million private placement capital fund-raising ("the Offering") which was undertaken by The Family Office Company B.S.C. (c) ("The Family Office"), a multi-family office based in Bahrain.

The amounts raised will be used to launch "the Company", a new multi-asset class investment fund providing exposure to a variety of Shari'ah compliant investments.

At the same time, the Company has announced that it has instructed its nominated adviser in London, Blomfield Corporate Finance Limited, to proceed with its application for admission to the AIM market of the London Stock Exchange ("Admission") for the entire issued and to be issued share capital of the Company.

It is anticipated that trading on AIM of 31,550,000 ordinary shares of US$0.01 each in the capital of the Company at a placing price of US$1 per share is expected to commence on Friday 25th July 2008 under the symbol FSF.

Abdulmohsin Al Omran, CEO of The Family Office, ing on the Offering said: "I am pleased to announce the completion of our successful private placement and the admission of The Family Shari'ah Fund Limited to AIM. The quotation on AIM will allow investors to participate in the rapidly growing market of Islamic finance. The Family Shari'ah Fund provides investors with an opportunity to invest in multiple asset classes in accordance with Shari'ah laws.

"This offering highlights The Family Office's ability to provide investors with Shari'ah compliant solutions for alternative investments (including Shari'ah compliant hedge fund offerings), real estate, private equity and sukuks."

Sheikh Nizam Muhammed Saleh Yaquby, SSB member of the Company, said; "The Family Office is committed to becoming a leader in modern Islamic finance and Islamic asset management by developing competitive and innovative multi-asset class Shari'ah compliant economic alternatives to conventional investments.& Our intention is to use the funds raised to concentrate our investments on the geographic areas outside of the GCC and to maintain a broad scope, moderate risk investment strategy.& The Family Shari'ah Fund Limited will be the first Shari'ah compliant multi-asset class fund to gain admission to AIM which will enhance its competitive position and appeal."

Offering highlights:

Upon Admission the market capitalisation of the Company will be US$31.55 million (circa. GBP£?m).

The Company will seek to provide investors with:

A diversified pool of Shari'ah compliant assets;

Geographic diversification, predominantly outside the GCC;

Liquidity through trading of the Company's shares on AIM; and

A stable return profile across a market cycle.

The Company will be managed by The Family Office with the objective of generating stable long-term capital appreciation across a market cycle through a diversified pool of investments, in strict accordance with Shari'ah principles (as determined by the Company' Shari'ah Supervisory Board ("SSB")).&

The Family Office has a track record of managing and advising on a number of investments and specific mandates from GCC-based high net worth families.

With effect from the Admission the Company will appoint the SSB who will be responsible for ensuring all underlying investments are compliant with the principles of Shari'ah. The initial members of the SSB will be Sheikh Nizam Muhammed Saleh Yaquby and Sheikh Abdul Sattar Abdul Karim Abu Ghuddah - both of whom are pre-eminent international scholars in the field of Islamic finance.

The Company's Board of Directors are responsible for formulating, reviewing, approving and monitoring the Company's strategy and budgets. The Directors include;

Peter Robinson

Non-executive Chairman

Abdulmohsin Al Omran

Non-executive Director

William Morrison

Non-executive Director

Christopher Dixon

Non-executive Director

Dr. Reinhard Leopold Klarmann

Non-executive Director

Islamic finance

Islamic finance is based on the Shari'ah interpretation of commercial and financial transactions and is used to describe those financial transactions that are Shari'ah compliant.&

Islamic finance is based (as is Shari'ah in general) on fairness and participating on a risk and profit sharing concept and in this respect can be seen as akin to equity.