Lebanon Real Estate Newsletter Vol. 4, Issue 2 - February, 2008

Press Release
Beirut, 28th February 2008

Hayek Group and SCAS Capital announce the formation of a joint venture between them. This JV, C&H Capital Group, marks an important step in raising the quality and professionalism of investment in real estate projects in Lebanon. The business of C&H capital Group JV is modeled according to the standard private equity and venture capital Limited Partnership and General Partnership relationship agreements. The Investment Objective and Strategy is to achieve superior capital appreciation through the purchase of identified land property, its development into a residential or commercial property and its resale on the open retail and/or wholesale market. The target gross IRR of the investments would be no less than 40% with an investment horizon of 2-3 years. C&H Capital Group will leverage its expertise and market knowledge to identify investments targeting liquid real estate properties and will offer turn key solutions to investors seeking short-term payback with payout options offered either in cash or in kind (property).

SCAS Capital is a private equity and venture capital investment advisory firm with offices in Boston, Dubai and Beirut. With a portfolio of over US$500 million under management, SCAS Capital is independent, employee-owned, and free of business conflicts. Its focus is on advisory and have no binding relationships with investment managers, private equity firms, brokers, banks or other service providers.

Hayek Group Hayek Group was established in early 1951 in Saifi, Beirut Central District as an engineering and contracting firm carrying out private and public projects all over Lebanon. Its background and long expertise enabled Hayek Group to act as consultants for major residential and touristy projects. The Group has executed projects in Lebanon and Middle Eastern countries with reliable performance characteristics needed to resolve a variety of construction challenges. Its efforts are specially formulated to achieve the most efficient, safe and economical solutions.