Noor Investment Group sets up outsourcing JV with Adventity

Noor Investment Group Establishes Joint Venture with Adventity new venture to leverage full service knowledge and business process outsourcing opportunities in the region

Dubai, UAE - Adventity, a leading global research, analytics and business processes firm, has entered into a joint venture with Noor Investment Group LLC, a premier investments firm focusing on Sharia-compliant, banking, financial and related services.

The joint venture will provide a full range of scalable end-to-end outsourcing services including transaction processing, knowledge and business process outsourcing ("KPO" and "BPO") and call centre management services. The joint venture will offer its services primarily in the Gulf Cooperation Counsel (GCC), Middle East and North Africa regions (MENA) and Pakistan.

Through the joint venture, Noor Investment Group will be able to leverage Adventity's expertise in process management in the financial services sector including assets and liabilities, card products, insurance, fund administration, customer relationship management, settlement and reconciliation, advisory services, detailed qualitative and quantitative business and financial research and a broad range of analytics offerings.

"The MENA region has always been of prime importance to Adventity, and our partnership with Noor Investment Group further strengthens our already solid position in the region," said Kumar Subramanian, CEO of Adventity.

"It not only provides us with an ideal opportunity to deepen our investments in a region which we feel will be our primary growth market, but will also bring significant value and solutions to our customers globally. We are delighted to have been chosen by Noor Investment Group as a partner for the Middle East."

This joint venture marks the first major investment by Adventity in Dubai. Drawing on its specialized recruiting and training pool in India, the company plans to establish a dedicated delivery centre in the region to address the growing need for state-of-the-art outsourcing solutions for the financial services industry.

"Over the last few months, the Noor Investment Group has been working with Adventity in a consulting and BPO capacity," said Hussain Al Qemzi, Group CEO, Noor Investment Group.

"We were impressed by the company's resources, talent and commitment to the MENA region. Together, we saw a growing opportunity to build a world-class BPO firm to service blue-chip companies across the region. The partnership with Adventity enables us to capitalize on that opportunity."

About Adventity

Adventity is the fastest-growing provider of strategic end-to-end knowledge and business process outsourcing solutions to the banking, mortgage, financial services and travel industries. With offices in North America, Europe, Middle East and Asia, Adventity's clients include a broad range of Global 1000 companies as well as top investment banks, private equity firms, management consulting firms, multi-billion dollar asset managers and regional and global airlines.

Ranked a Top 25 Best Managed Global Outsourcing Company by the 2007 Black Book of Outsourcing, Adventity provides comprehensive and cost-effective outsourcing solutions, including tailored research and analytical services, middle and back office services, credit, debit and cash cards processing, loan origination and processing, underwriting, airline revenue accounting & recovery, fares distribution and customer contact support.

Adventity is funded and supported by Norwest Venture Partners, CIBC Capital Partners, DA Capital and private investors.

Additional information can be found on the company's website: http://www.adventity.com

About Noor Investment Group

Noor Investment Group LLC (NIG) is a company focusing on investments in Sharia-compliant, banking, financial and related services. Headquartered in Dubai, NIG is currently executing aggressive growth plans to expand its portfolio of investments across global markets.

Noor Islamic Bank

PJSC ("NIB"), a full service commercial bank head quartered in Dubai is the flagship entity of, and the primary growth engine within, NIG. NIG is also currently in the process of establishing its Takaful business, which is to offer both Family and General Takaful.

Makovsky + CompanyMaggie Duquin, +1 212.508.9629 mduquin@makovsky.com or Noor
Islamic BankRamy El Zein, +9714 4268787 ramy.elzein@noorbank.com