Crescent Capital Changes Name to Arcapita.

ATLANTA -- Crescent Capital Investments, Inc. announced today that the firm together with its parent company, First Islamic Investment Bank B.S.C.(c), a Bahrain-based merchant bank, are changing their names to Arcapita. Crescent Capital will officially change its name to Arcapita Inc. on March 15, 2005 and a new logo and corporate identity will be gradually introduced over the coming months. At the same time, First Islamic will change its name to Arcapita Bank BSC, and the Bank's European subsidiary, Crescent Capital Investments (Europe) Limited, will also change its name to Arcapita Limited.

The consolidated group recently announced net income of $70.5 million for the year ended December 31, 2004. Since commencing its operations in 1998, the group's net income has grown at a compounded annual growth rate of more than 45 percent and its assets have grown twelvefold to more than $1.2 billion as of December 31, 2004. Today, the group employs over 140 people in its three offices in Bahrain, Atlanta and London.

Uniting its businesses in the Middle East, North America and Europe under a single brand is a key part of the group's strategy to evolve into a leading international financial institution, offering corporate investment, real estate investment and asset-based investment activities.

Crescent Capital has been active in the U.S. and European private equity and real estate investment markets since 1998, completing 16 corporate investments representing aggregate value of approximately $2 billion and equity commitments of nearly $1 billion. Corporate investments within the last six months include Church's Chicken, Loehmann's, TLC Healthcare Services, Southland Log Homes, and Vogica. Previous investments include Cirrus Industries, Caribou Coffee and Medifax. In the real estate and asset-based sector, Crescent Capital has completed 19 transactions totaling in excess of $5 billion, with such industry partners as Prologis, Sunrise Senior Living, Shurgard and Archstone-Smith. Recent real estate and asset-based transactions include taking private a U.K.-based water utility, the development of two master-planned communities in the Middle East, self-storage and industrial development in Europe, and a condominium conversion in central Florida.

The group's Chief Executive Officer Atif Abdulmalik said: "We believe that a strong unified brand will allow us to build on our established relationship with our shareholders, investors and business partners and build on our track record of delivering innovative investment opportunities that generate superior returns."

Charlie Ogburn, global head of Corporate Investment, said, "Although we have a new name, we will continue to adhere to the same values and investment principles which have helped us to succeed. The Arcapita name will allow us to build a differentiated brand, to further support our portfolio companies, and to deliver an even better service to our investors."

NOTES TO EDITORS

ABOUT ARCAPITA (previously known as First Islamic Investment Bank and Crescent Capital Investments)

Headquartered in Bahrain with offices in Atlanta and London, Arcapita's three principal lines of business are corporate investment, real estate and asset-based investment. To date, the Bank has completed 35 transactions with a total value of over $7.5 billion and has an equity capital base in excess of $300 million. Arcapita's mission is to provide innovative and distinctive Shari'ah compliant investment opportunities that generate superior risk-adjusted returns.

Key Milestones

1997   First Islamic Investment Bank founded with $112.5 million
        share capital
       Established offices in Bahrain and Atlanta
 1998  Launched corporate investment line of business
 1999  Established real estate line of business
 2000  Completed first exit with sale of Computer Generated
        Incorporated (CGI)
       Completed first real estate transaction
 2002  Completed first European transaction
 2003  Established asset-based investment line of business
       Opened London office
       Issued first corporate Sukuk (bond)
 2004  Equity capital increased to $300 million
       Completed first public to private US transaction
       Completed first European corporate investment
       Completed first Gulf region real estate transaction
       Completed first public to private European transaction
       London office moved to permanent headquarters in Sloane Square,
        London

2004 Highlights

Corporate Investments

The group has completed corporate investments in the healthcare, aerospace, consumer, retail, industrial and technology sectors.

Corporate investment transactions completed during 2004 include Loehmann's Holding Inc., a leading US-based off-price specialty retailer of upscale in-season brand name merchandise; Vogica, the largest direct retailer of kitchens and bathrooms in France; and Church's Chicken, the third largest operator and franchiser of chicken Quick Service Restaurants in the world. In addition, since December 31, Crescent Capital has completed the acquisitions of TLC Health Care Services, Inc., the second largest provider of home nursing services in the United States, and Southland Log Homes, the largest manufacturer and direct marketer of log home kits in America. The acquisition of Cypress Communications, an Atlanta-based provider of communications services, is pending and is expected to be completed in the first half of 2005.

Real Estate Investments

The Bank's real estate portfolio consists of transactions in the industrial/warehousing, multifamily, assisted living, self-storage, developmental and lifestyle residential sectors.

In the real estate line of business, during 2004 First Islamic formed a second joint venture with Shurgard Self Storage SCA to develop up to 36 self-storage facilities in the UK, France, the Netherlands, Denmark, Sweden and Germany. The Bank also established Crescent Euro Industrial Portfolio, in joint ventures with Heitman International and UBS, to invest in quality industrial and distribution assets on a pan-European basis. In September 2004, First Islamic formed Victory Heights Golf and Residential Development Company LLC, a joint venture with Dubai Sports City LLC, to develop approximately 800 upscale single-family units, an 18-hole championship golf course, and other amenities and facilities, as part of the Dubailand project. Victory Heights represented the Bank's first investment transaction in the Middle East. In October 2004, First Islamic formed a joint venture with Bahrain International Golf Course Company to develop a themed residential community around the expanded Riffa Golf Course in Bahrain. The project is expected to consist of some 500 residential units with access to wide-ranging leisure facilities and amenities.

Asset-Based Investments

The Bank has completed asset-based transactions in the renewable energy, aerospace, and utilities sectors.

In February 2004, the Bank acquired a stake in a portfolio of wind farms in the United Kingdom, in partnership with RWE npower, a leading integrated UK energy business, and another private equity investor. The total transaction value was GBP 410 million, with each party holding a 33.3% interest in the portfolio. The completed portfolio is expected to comprise approximately 20 wind farms with over 430 MW capacity and is expected to become the largest wind farm portfolio in the United Kingdom. In November 2004, First Islamic completed the acquisition of South Staffordshire Plc, a UK-based Water-only-Company, which was quoted on the London Stock Exchange, for a total value of approximately GBP 245 million. This Pound Sterling denominated transaction was our first European public to private transaction and is the largest equity placement the group has made in its history.