HICH Hichens Harr.

    Hichens, Harrison & Co. plc

16 August 2007

CORRECTION

LAUNCH OF HEALTHCARE INVESTMENT VEHICLE IN MIDDLE EAST

Release replaces "Launch of Healthcare Investment Vehicle in Middle East"
released at 08.21, 10/08/07. Number of placing shares has been amended in the
first paragraph as has number of option shares in the fourth paragraph.

Hichens, Harrison & Co. plc ("Hichens, Harrison") today announces the
successful first round closing of a private equity placing of 6,208,977 common
shares at $1 per share capitalising MENA Healthcare Investment Company Limited,
a BVI-registered investing company ("MENA H. I. C." or the "Company") at $ 7
million, post-investment.

The Company has already completed the acquisition of a 70% controlling stake in
an established operating business in Dubai ("Med-Serve"), which screens
immigrant workers and expatriate applicants for United Arab Emirates ("UAE")
residency visas for certain medical conditions, in accordance with the
immigration and labour testing laws. The population of Dubai alone is estimated
by the Municipality of Dubai itself to increase to five million by the year
2020 from under two million today; much of this growth will result from the
influx of larger numbers of expatriates and migrant workers, all of whom will
require to be screened on entry and re-screened triennially.

Adam Wilson, Chief Executive of Hichens, Harrison, said of MENA H. I. C., "I am
delighted to have completed our first transaction for an investment vehicle in,
and focusing on, the Middle East and North Africa ("MENA") region, as
healthcare expenditure is expected to rise sharply over the coming years. A
report recently published by McKinsey predicted that spending on healthcare
within the Gulf Co-operation Council nations will reach more than $60 billion
(Dh. 220 billion) by 2025, up from $12 billion (Dh. 44 billion) at present and
that the contribution of the private sector in healthcare service provision
will continue to grow.

"The MENA H. I. C. transaction is an example of Hichens, Harrison's transition
to the role of more than London stock broker, adopting a traditional merchant
banking model, where it not only advises small- to medium-sized companies
across the globe but also participates financially in those companies' growth
and success."

The same investor group, which is largely UAE-based, also has the option to
participate in a second round of fundraising - which is expected to conclude in
the autumn of this year - of up to a further $6.2 million for the Company, on
the same terms of $1 per share. Hichens, Harrison elected to commute its fees
to date for advising MENA H. I. C. into common shares and also subscribed in
the private placing utilising the redemption proceeds of certain loans
previously made to Med-Serve. Through Hichens, Harrison (Ventures) Limited it
is thus itself also an investor in the Company, now owning 2,208,000 common
shares, or 31.54 percent of MENA H. I. C., whilst continuing to support the
Company as it develops its plans to become one of the region's active investors
in specialist healthcare service provision and product distribution.

Enquiries:

Hichens, Harrison

Adam Wilson, CEO

Tel. 020 7382 4450

Ruegg & Co Limited

Brett Miller

Tel. 020 7584 3663

Hansard Group

Ben Simons

Tel. 020 7245 1100



END

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