08 January 2009 Gatehouse Bank, the fully Shariah-compliant wholesale investment bank based in the City of London, has reinforced its Origination team by appointing Philip Churchill as Head of Real Estate.

Philip joined Gatehouse in December 2008. He brings with him a wealth of Islamic finance and real estate experience having been Head of Investment Management, Europe for four years with HDG Mansur, fund manager of the HSBC Amanah Global Properties Income Fund.

Prior to that, Philip worked at Citigroup for nine years, where he was involved in the establishment and investment of two Shariah-compliant European real estate funds. Philip's real estate experience covers a broad variety of property types, geographies and strategies.

David Testa, CEO, Gatehouse Bank, ed:

"I am delighted that Philip has joined Gatehouse Bank.& His appointment shows Gatehouse Bank's commitment to establish a real estate leverage and equity investment business. The current market conditions are creating long-term opportunities for value focused investors, especially those looking to enter the UK market. Philip's depth of Islamic real estate experience is a perfect complement to the existing team and extends our global and product expertise."

Philip Churchill, Head of Real Estate, Gatehouse Bank added:

"Gatehouse Bank offers a unique opportunity to build a real estate finance and equity investment business, supported by its solid Kuwaiti shareholder base, wide client network and handpicked team of professionals headquartered in London.& With the real estate market providing attractive opportunities while the traditional property lenders are currently inactive, Shariah-compliant banks are an attractive alternative, particularly for Gulf-based and Southeast Asia investors. &I am looking forward to working on a diverse range of transactions and believe that, despite the economic gloom, the fall in real estate values provides an ideal opportunity for the Gatehouse team to support real estate investors."

-Ends-

Gatehouse Bank plc (Gatehouse) was established in May 2007 and received authorisation from the Financial Services Authority (FSA) to act as a Shariah-compliant wholesale investment bank in the United Kingdom in April 2008.&

Gatehouse undertakes all of its activities in accordance with Shariah principles and focuses on business opportunities throughout Europe, the Gulf region, and North America, as well as targeted countries in the emerging markets and South-East Asia.

It has four key areas of business:

Capital markets, including Real Estate leverage;

Institutional wealth management, including Real Estate equity;

Treasury business;

Shariah advisory services.

Gatehouse is a subsidiary of one of the leading and most respected investment companies in Kuwait, The Securities House KSCC, and as part of its activities Gatehouse provides products and services complementary to the parent company's offering.

To find out more about Gatehouse Bank, visit: www.gatehousebank.com

To find out more about The Securities House KSCC, visit: www.sh.com.kw Gatehouse Bank&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Sarah Boyce/ Sammia Dougman&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Tel: +44 20 3170 7138&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Madano Partnership (for Gatehouse Bank) Bethany Watson/Rowan Baker Tel: +44 20 7593 4000

© Press Release 2009 & omar 1.1:zy