SALAMA SHARE BUY BACK

The Board of Directors of SALAMA, largest Takaful and Re-Takaful Company, met today to discuss the financial for year ended on 31st Dec 2006. Board of Directors expressed satisfaction on the performance of the Company. The underwriting profit of AED 82.5 million represents strong operating performance of the company compared to AED 75.3 million for year 2005. Net profit of year 2006 is AED 181.015 against AED 110.741 million for the year 2005 representing 65% increase over last year. Board of Directors decided to buy back up to 10% of company shares subject to regulatory approval; this buy back represents confidence of Board of Directors on the performance of the Company.