Lionhart Launches DIFC Office as DFSA Grants License

Dubai - 28 July 2008

Lionhart (Middle East) Limited part of the Lionhart group of companies, a firm specializing in global multi-strategy arbitrage, today announced that it has gained regulatory approval from the Dubai Financial Services Authority (DFSA) to open an office in the Dubai International Financial Centre (DIFC).

The Dubai office will be headed by Jim Quinn who has over 20 years experience in the asset management industry with 10 years experience in the Gulf region. The office opening and the establishment of a dedicated team is the culmination of many years of investing in the Middle East.

The increasing sophistication of Gulf investors and the rapid development of economies mean that the region is set to play an increasingly important role in the world's economy. With this new office opening, Lionhart is committing itself to the Gulf region for the long term.

Terry Duffy, CEO of Lionhart, comments, "Our global expansion continues with the launch of our Gulf operations. We feel strongly that our track record of achieving strong, absolute, non-correlated annual returns on a consistent basis while maintaining a core commitment to preservation of investor capital fits well with the appetites of investors in the Gulf."

Jim Quinn, Senior Executive Officer of Lionhart (Middle East) Ltd.
added, "I am delighted to be announcing the launch of Lionhart's first office in the Middle East. Gulf investors were amongst the first in the world to see the advantages of hedge fund products and we believe that the DIFC represents the ideal base for our regional headquarters."

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