Amman, Jordan, May 2008 – Inwan Investment PLC (Amlak Finance – Jordan PLC) announced the Initial Public Offering of its shares as the first public shareholding company specialized in mortgage financing services for the development and housing sectors in Jordanin compliance with Shariah laws. Jordan Investment Trust P.L.C. (Jordinvest), a leading provider of integrated investment and financial services locally and regionally, was selected as IPO manager and financial advisor.

By virtue of the Jordanian Securities Commission’s approval to register its capital shares (55 million shares/ dinar), Amlak will offer 13,750,000 shares for subscription through an Initial Public Offering with a nominal value of JD1/ share.

Inwan Investment (Amlak Finance – Jordan) intends on leaving a mark on the Islamic financial mortgage and investment sector in Jordan by catering to the needs of society’s different economic segments through unprecedented solutions and products that are both modern and simple. To that end, extensive and in-depth studies were conducted to indentify market needs and requirements.

Subscription will start on the morning of Monday, 19 May 2008 at all the branches of the Jordan Kuwait Bank, the Arabic Islamic International Bank and ABC Bank in the Kingdom, and end on the evening of Sunday, 1 June 2008.

In a partnership that includes leading names in investment and development, namely, the Investment Unit of the Social Security Corporation, Jordan Dubai Capital, Jordan Kuwait Bank, ABC Bank, Amlak Finance- UAE, Global Investment House, Taameer Jordan and Al Masaken Real Estate Development Company, the company was established in accordance to the core business direction of Amlak Finance, which centers on providing Shariah-compliant financing and real estate investment services and products.

Amlak Finance, the largest listed Shariah-compliant real estate financier in the UAE and the Middle East, has embarked on this venture as part of its overall regional expansion plans that are intended to position the company as the main regional provider of real estate financing services for developers of housing projects and those wishing to invest in them.