SCAP Shariah (Regs)

RNS Number:3128Q
Shariah Capital, Inc
18 March 2008




DMCC to Develop and Seed Commodity-linked Investment Products

   * Launch DMCC-owned asset management company

   * Establish joint venture initiative with Shariah Capital

   * Take 4.99% equity stake and board seat in Shariah Capital

Dubai, March 18, 2008: The Dubai Multi Commodities Centre (DMCC) announced today
that it has applied for a license to set up a UAE investment company - DMCC
Asset Management Company (DCAM) - that will develop and seed commodity-linked
investment products for distribution in the UAE and other markets. DCAM will be
registered as a DMCC Free Zone Company and established with an initial capital
of AED 25 million. It will be 100 per cent owned and managed by the DMCC.

The DMCC also announced that it will develop and manage a range of Sharia'a
compliant investment products focused on commodities through a joint venture
initiative between DCAM and Shariah Capital, a U.S.-based, publicly-traded
company on the Alternative Investment Market (AIM) of the London Stock Exchange.
The joint venture entity, DMCC Shariah Asset Management Company (DSAM), will be
owned 51 per cent by DCAM and 49 per cent by Shariah Capital.

Ahmed bin Sulayem, Executive Chairman, DMCC commented: "DMCC has progressively
established itself as a provider of innovative products in its mandate to
promote Dubai as the region's pre-eminent commodity trading hub. DCAM and DSAM
will serve as vehicles which offer the region's first commodity-linked
Shariah-compliant investment products. We believe such products will be of great
interest to institutions and high net worth individuals who are looking beyond
the traditional investment areas and want to participate in the commodity boom
in a sustainable and Shariah-compliant manner."

Dr. David Rutledge, Chief Executive Officer, DMCC said: "DMCC's primary mission
is to provide physical, financial and market infrastructure to all participants
operating along the commodities value chain. Our initial objective was to
develop the physical and market infrastructure critical for building a
commodities marketplace in the region. We have done that, with exceptional
success, in a remarkably short period of time. The launch of DCAM and
DSAM sets similar goals in commodities management and demonstrates DMCC's
commitment to lead our industry in global commodities trading and investment."

To confirm its commitment to the development of Sharia'a compliant
commodity-backed investment products, DMCC intends to purchase a 4.99 per cent
equity share of Shariah Capital as part of the joint venture arrangement for
DSAM, after which Dr. Rutledge is expected to be nominated to join Shariah
Capital's Board of Directors.

Eric Meyer, Chairman and Chief Executive Officer of Shariah Capital, spoke
enthusiastically about the DSAM partnership and DMCC's equity stake in Shariah
Capital: "DMCC has taken a pioneering step in leading the concept of an
investment company structure to develop a DMCC-backed brand of Shariah compliant
commodity-linked investment products.  DMCC's unique focus on commodities and
precious metals will distinguish the DSAM brand and, we believe, establish a new
specialty asset class in Shariah. We also look forward to welcoming DMCC as one
of our investors and Dr. Rutledge to our Board of Directors."

Shaykh Yusuf Talal DeLorenzo, Chief Shariah Officer of Shariah Capital,
described the Shariah integrity of DSAM: "Both DMCC and Shariah Capital are
committed to establishing a brand of Shariah compliant investment products that
meets the most stringent conditions of Shariah compliance.  Our goal is to
maintain the highest Islamic standards while sourcing strategies that deliver
superior Shariah compliant returns."


Editor's Note:

About DMCC Corporate

DMCC was created in 2002 as a strategic initiative of the Dubai Government to
establish a commodity marketplace in Dubai. Rated 'A' by Standard & Poor's, it
provides the market infrastructure that brings together a wide range of
commodities activities, and is committed to serve the needs of participants in
the gold, diamonds and commodities markets. Resident companies of DMCC are
offered highly attractive benefits under a free zone status, including a 50-year
guaranteed tax holiday, 100 per cent business ownership, full ownership of
business premises, and a secure regulated environment.


About Shariah Capital

Shariah Capital (www.shariahcap.com) creates and customizes Shariah compliant
financial products and platforms and provides Shariah compliant consulting and
advisory services to financial institutions and investment firms with
product initiatives directed to Islamic investors.

Shariah Capital is publicly traded on the Alternative Investment Market (AIM) of
the London Stock Exchange under the symbol SCAP. It reports to the Financial
Services Authority (FSA) in the United Kingdom and is registered and licensed
with the Dubai International Financial Centre (DIFC) in Dubai, United Arab
Emirates. Shariah Capital is headquartered in the United States and operates an
office in Dubai.

All statements, other than statements of historical fact, contained in this
document constitute "forward looking statements". In some cases forward looking
statements can be identified by terms such as "may", "intend", "might", "will",
"should", "could", "would", "believe","anticipate", "expect", "estimate",
"predict", "project", "potential", or the negative of these terms, and similar
expressions. Such forward-looking statements are based on assumptions and
estimates and involve risks, uncertainties and other factors which may cause the
actual results, financial condition, performance or achievements of the Company
to be materially different from any future results, performance or achievements
expressed or implied by such forward looking statements. New factors may emerge
from time to time that could cause the Company's business not to develop as it
expects, and it is not possible for the Company to predict all such factors.
Given these uncertainties, prospective investors are cautioned not to place any
undue reliance on such forward looking statements except as required by law. The
company disclaims any obligation to update any such forward looking statements
in this document to reflect future events or developments.



For further information, please contact:

Nicholas Nesson / Gunjan Chaurasia
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-4-3355969, Fax: 971-4-3356080
Mob: 971-50-4785324 / 971-50-2797034
Email: n.nesson@asdaa.com / g.chaurasia@asdaa.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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