SCAP Shariah (Regs)

RNS Number:2038N
Shariah Capital, Inc
04 February 2008


Shariah Capital, Inc.

Notification of transactions of Directors, persons discharging managerial
responsibility or connected persons

In connection with the vesting of restricted shares of certain of its directors
and officers and the sale of shares to an individual investor, Shariah Capital,
Inc. (the "Company") reported today that it has (i) withheld shares from such
directors and officers equal to the estimated income tax liability to the
directors and officers in connection with the vesting of the restricted shares
(the "Share Tax Withholding") and (ii) sold these shares and other authorized
but unissued shares to third parties in private transactions.

In accordance with Schedule Five and Schedule Seven of the AIM Rules, the
Company states as follows:

1.      The above-mentioned shares were withheld by the Company on January 22,
2008 and sold to third parties on January 31, 2008.

a. The directors and employees who participated in the Share Tax Withholding
were Joseph Gau, Yusuf Talal DeLorenzo and William Redman;

b. The price per share was $1.30.

c. The class of shares were the common stock of the Company, in the aggregate
amount of 435,000 shares.

d. The nature of the transaction was a withholding of shares in connection with
the vesting of restricted stock to directors and employees, permitting the
Company to liquidate such shares to remit the income tax associated with the
vesting of such shares.

e. The extent of each director's and employee's interest in the transaction was
as follows:


Name of Director/Employee           Total Shares Vested      Shares Withheld

Joseph Gau                               682,500                282,500

Yusuf Talal DeLorenzo                    315,000                102,500

William Redman                           150,000                 50,000

                                                          Total 435,000


2.      A total of 510,000 shares (including shares withheld pursuant to the
Share Tax Withholding) was sold by the Company to third parties on January 31,
2008.

3.      The Company has 57,063,100 shares of common shares issued and
outstanding.


Enquiries:

Eric Meyer
Chairman and Chief Executive Officer
Shariah Capital, Inc.
Telephone: +1 (203) 972-0331
emeyer@shariahcap.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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