Kuwait City, Kuwait: Gatehouse Bank plc (Gatehouse) has begun 2010 with pleasing results including a property transaction valued at £29.2 million completed on behalf of its GCC investor clients. Expected to deliver an average cash yield of 9.5% after all fees, costs and taxes; Gatehouse closed the purchase of a portfolio of student accommodation properties in the famous university towns of Liverpool and Loughborough, in the UK this week.

Recognising early on the opportunities in the student accommodation sector and driven by a shortage of good quality properties, growing demand and increasing rents; Gatehouse moved to secure these assets at a good time in the property cycle. These new buildings were purchased fully let and can accommodate 653 students. They are managed by a well known operator, Watkin Jones Group who has developed over 15,000 student units in the UK.&

The recent success underscores the enduring efforts of Gatehouse's real estate team to uncover and secure for their clients solid opportunities in the commercial property sector, incorporating investor demands for opportunities that entail balanced risk and long term rewards within a diverse portfolio.

Fahed Boodai, Chairman of Gatehouse said, "With a strong understanding of the UK property market, and a long term strategy to meet astute investor needs, these select properties offer growth potential and security for our clients.&

This accomplishment builds on from Gatehouse's previous success in December, with the procter and Gamble property acquisition valued at £34 million and yielding a cash return in excess of 9%, speaks volumes to our shareholders, reassuring them that behind this success rests a strong team of experts that can carry a positive track record.

We are looking after the interests of our Kuwaiti investors as they look towards London's expertise and product offering within a solid regulatory environment."

The results oriented team at Gatehouse believe it is down to their focused ambition and agility, to identify opportunities in the market promptly deliver them to their clients.

CEO Richard Thomas says "In a rapidly improving UK commercial property market, Gatehouse stands out with an enviable pipeline of high quality transactions under its control. In addition to our access to different value added sectors such as student accommodation, we have also moved ahead of the market to secure higher yielding out of London HQ office buildings with first class tenants. We have lined up strong properties already and delivered real results, this will not stop and we aim to maintain success into the long term. In fact we are showcasing an even more diverse portfolio including further examples from medical and other attractive business park property locations. "

With a keen eye to provide global investor solutions, leveraging, structuring and financing property transactions in a Shariah compliant manner, and with a fledgling record of success; the outlook is not only optimistic, but one proven to be prosperous for Gatehouse investors.

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Gatehouse Bank

Gatehouse Bank operates as a Shariah-compliant wholesale investment bank based in the City of London focusing on: Islamic Capital Markets, including Real Estate leverage; Institutional Wealth Management including Real Estate equity; Shariah advisory services; Islamic Treasury business.

For more information please visit our website www.gatehousebank.com

Watkin Jones Group

Watkin Jones Group is one of the most experienced and extensive developers of student accommodation in the UK having created over 15,000 student units in key University locations in the past decade alone.& With a further 2,000 units being completed this year and a significant development pipeline already identified, the Group is focused on the delivery of quality bespoke accommodation for the increasingly discerning and growing student population.

For further information on the Group, student accommodation development, and its other development activities please visit our web site www.watkinjones.com&

For further information please contact:

Kuwait

Samah Al-Nughaimish&&

GSH Kuwait

+ 965 22332040

samah@gsh.com.kw

Amna Al Jareery

Action Kuwait/ part of Action Global Communications

+965 24915616

Amna.j@actionprgroup.com

&

Bahrain

Rohan Shanker

Action Global Communications

+973 17234552

rohan.s@actionprgroup.com&

London

Angelena Lee

Gatehouse Bank

+44 (0) 20 7070 6000

angelena.lee@gatehousebank.com

© press Release 2010