Abu Dhabi, 3rd December, 2008: Waha Leasing, an operating unit of of Waha Capital, announced today its purchase of an Airbus 330-200 and an A320-200 from AerCap Holdings, an integrated global aviation company headquartered in Amsterdam. The aircraft, both newly delivered, are subject to long-term operating lease to the Russian airline, Aeroflot.

“The current economic slowdown has been affecting the aviation industry and only few players are pursuing new business this year. Given the prevailing market condition, we are proud to be one of those very few players that still actively engage in competing for new business,” said Salem Rashid Al Noaimi, Chief Executive Officer of Waha Leasing.

“Many aviation companies are deferring business until next year, when the market condition is expected to stabilize. The environment at present is very challenging but Waha Leasing sees this as an opportunity to create a strong position for itself in the industry by forging potentially productive and long-term partnerships. We are very pleased to be working with AerCap and to be doing business with Aeroflot, our first Russian client. We look forward to a lasting relationship with both companies” he added.

Waha Leasing is the owner of and/or provider of

financing for 50 aircraft with a current market value of approximately US$2 billion. Aircraft asset types include regional jets, narrow-body and wide-body commercial aircraft with an average age of about 8 years. Its product offerings include operating and finance leases, subordinated loans and structured financing solutions with strategic focus on direct sale/leasebacks and portfolio acquisitions.

Waha Capital PJSC is an Abu Dhabi-based and Abu Dhabi Securities Exhange (ADX)-listed, diversified, investments holding company, which was created by restructuring Oasis International Leasing Company PJSC in February 2008. Waha Capital has adopted a clear vision and strategy to drive multi-sector business growth and diversification through acquisitions, joint ventures and creation of new business. Its current business portfolio includes big-ticket leasing, financial services, maritime and property development. Waha Capital's main institutional shareholders are Mubadala Development Company and Abu Dhabi Investment Company. For more information please visit www.wahacapital.ae

Waha Capital:
Wael Kanakri
Communications Director
Waha Capital PJSC
E-mail: wael.kanakri@wahacapital.ae