DUBAI, 3 November 2006 — Standard & Poor’s (S&P) assigned a BBB ‘Stable’ long-term counterparty credit and insurer financial strength rating to Takaful Re Limited (TRL), a Dubai International Financial Center (DIFC) based Retakaful operator on Oct. 31. Chakib Abouzaid, chief executive officer, Takaful Re commented: “This rating is a vote of confidence from a world renowned and recognized independent body, S&P. This achievement will reinforce the commitment of Takaful Re in delivering high quality products and services to all its clients. Our entire team at Takaful Re is energized and we look forward toward a more strengthened and established business relationships with our clients in the future.”