Istithmar World Capital Invests in ESPA International, World Leading Spa Company

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April 14, 2008

DUBAI United Arab Emirates April 14 PRNewswire - Istithmar World Capital IWC and ESPA InternationalESPA have joined forces in which IWC has acquired a 40 equity stake inESPA Logo ESPA International is a UK based global luxury spa companyoffering total spa solutions including a world-renowned spa design andmanagement division an extensive natural product range innovative andeffective treatments and unsurpassed post graduate therapist trainingprogrammes Since its inception in 1993 ESPA has become a leading providerof luxury spa and wellness products and services Chief Executive and Founder of ESPA International SusanHarmsworth said today I am delighted to be working in partnership with IWCand we look forward to building on our reputation as the leading luxury spaand wellness brand in the world As the profile of the spa consumer becomesmore sophisticated and internationally travelled it is essential that weinvest in our brands underlying infrastructure in order for us to bringgreater value and further extend our services to the clients As a brand ourcommitment remains to luxury niche and excellence in spa and wellness Wechose IWC to be our partners as they share our vision and they will help usin its execution Conde Nast Traveller awarded ESPA at One Only One ReethiRah Maldives as the best spa for 2008 With growing evidence of consumersdemanding spa packages a spa is now seen as a must have in any 5 star orabove hotel resort or leisure operation ESPA currently operates in over 45countries with offices in UK USA and Hong Kong with Dubai due to open in2008Adel Al Shirawi Vice Chairman of Istithmar World continued Our focusis on iconic brands and the luxury market is paramount to us Our desire isto continue to build our portfolio of luxury brands and the ever growing Spaand Wellness sector is a natural direction In our extensive research of theglobal Spa market ESPA International stands above the rest in terms ofexcellence in standards and reputation Notes to Editors IWC Istithmar World Capital is a private equity and alternativeinvestment house headquartered in Dubai United Arab Emirates with an officein Shanghai China Established in 2003 we are a Dubai World company In the four years since its inception Istithmar World Capitalhas invested in over 35 companies with total capital deployed in excess ofUS 3 billion and an aggregate enterprise value of US 7 billion Istithmar World Capital has successfully established itself asa major investment company with a broad portfolio of successful firms inmarkets ranging from North America and Europe to the Middle East and the FarEast as well as across a variety of sectors ranging from consumer toindustrial and financial services Istithmar World Capital has been recognized for its successwith various prestigious awards from leading industry publications such asBanker Middle East and Euromoney Istithmar World Capitals success is expected to continue dueto its ability to uniquely leverage its ownership by capitalizing on three ofits parents strengths - Patient Capital Istithmar World Capital has access tolonger-dated patient sources of capital - Flexibility of Investments Istithmar World Capital has theability to invest at any level of an assets capital structure - Extensive Industry Expertise and Geographic NetworkIstithmar World Capital has the ability to capitalize on Dubai Worldsextensive industry knowledge and international network to gain exclusiveinsight into certain industries and regions source deals procureacquisition debt and partner with leading institutions specially in theMiddle East and North Africa MENA and Asia ESPA International ESPA is an International Company at the most prestigious levelof the Spa industry Years of experience covering strategy operationalconceptual and development elements of spas combined with an in depthknowledge of differing cultures products and treatments result in a Companywhich is well rounded and genuinely committed to inspired natural productstreatments and spa development Natural interaction within the companyensures that all elements work synergistically stimulating creative andinnovative ideas that keep ESPA at the cutting edge of the Spa Industry andensures the products and services remain unique ESPA consists of several interlinked areas- - Spa Design and Operations - Spa Management Solutions - Products and Treatments - Training - Recruitment The result is fully operational spa support Currently operating in over 45 countries with offices in UK USA and HongKong with Dubai due to open in 2008 For further information please contact ESPA International Tom Konig Oppenheimer at The Communications Store 440207-939-1010 IWC Contact Details For further information please contact Hwee-Suan Ong BPG Public Relations Tel 97150-875-4977 Fax 9714-295-1027 E-mail HweesuanbatespangulfcomIstithmar World Capital

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