Los Angeles, September 29, 2009 – Wamar International has acquired a stake in Middle East Propulsion Company (MEPC) in parallel with MTU Aero Engines becoming a shareholder in this company. The deal was concluded today by Wamar International and Germany's leading engine manufacturer MTU Aero Engines in Riyadh, Saudi Arabia. Mr. Nabil Barakat, the President and CEO of Wamar International, stated that he is personally very happy that after a 25 year business relationship, MTU Aero Engines and Wamar have now formed this partnership which has tremendous potential. "The Middle East is not only my home, it is a booming and fascinating region and Saudi Arabia is a key market in this part of the world."

MEPC is a joint venture between United Technology International Corporation, parent company of Pratt & Whitney, Saudi Arabian Airlines and Shomoukh al Hemman for Communication and Information Co. Ltd. MEPC specializes in the maintenance of aircraft engines. Its major customer is the Royal Saudi Air Force (RSAF), which has the Pratt & Whitney F100 engines powering its Boeing F-15 fighter jets maintained by MEPC. The company plans to expand its maintenance portfolio to include modules of the Tornado's RB199 engine and the Eurofighter's EJ200 engine as well as the T-56 engine for the C130s and the PT6 engine which powers various helicopters and propeller aircraft.

Wamar International, Inc., (Wamar) was started in 1983 and was incorporated in the United States of America in the State of California in 1987. Since then it has established regional offices in Amman, Jordan; Muscat, Oman; Baghdad, Iraq; Munich, Germany; Seville, Spain, Belfort, France and Johannesburg, South Africa.

The company has expanded its activities to include the following industries: Aviation and Aerospace; Construction; Oil & Gas Exploration and Production; Power Generation; Training & Capacity Development and Turbo Machinery Maintenance and Overhaul and employs a staff of about 200 in all parts of the world.