HINT Hill Intl (MM)

Hill International (Nasdaq:HINT), the worldwide construction consulting firm, announced today that it has entered into an agreement with Makan Capital Group (๏ฟฝMCG๏ฟฝ), a merchant banking and investment management firm, pursuant to which they will form a new joint venture company that intends to develop commercial, mixed-use, residential, infrastructure and other projects throughout the Middle East and North Africa. The new company, to be named Makan Hill International Ltd., will be owned 50% by MCG and 50% by Hill and will be headquartered in Abu Dhabi, United Arab Emirates. MCG, which is headed by His Highness Prince Abdulaziz bin Fahad bin Abdullah Al Saud, intends to raise a fund targeted at approximately $500 million to invest in projects to be developed by Makan Hill. ๏ฟฝThis new venture will bring Hill๏ฟฝs project management resources and experience to the development of projects throughout the Middle East region,๏ฟฝ said Irvin E. Richter, Hill๏ฟฝs Chairman and Chief Executive Officer. ๏ฟฝIt will also allow us to begin to develop projects as a principal with minimal investment by and risk to Hill,๏ฟฝ Richter added. ๏ฟฝThe combination of MCG๏ฟฝs financial expertise and Hill๏ฟฝs project management expertise, together with our joint local market knowledge, will allow our new company to develop successful projects with the returns demanded by our investors,๏ฟฝ said Steven Koinis, Managing Director and Chief Executive Officer of MCG. Makan Capital Group is a global private equity and investment management firm based in Abu Dhabi. MCG๏ฟฝs special focus on the Middle East and North Africa provides superior investment products in a Sharia๏ฟฝa compliant manner. For further information about MCG, please contact Steven Koinis, Managing Director and CEO, at skoinis@makancapitalgroup.com. Hill International, with 1,600 employees in 70 offices worldwide, provides program management, project management, construction management, development management and construction claims services. Engineering News-Record magazine recently ranked Hill as the 10th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com. This press release may include certain statements that fall within the definition of ๏ฟฝforward-looking statements๏ฟฝ under the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties, overall economic and market conditions, competitors๏ฟฝ and clients๏ฟฝ actions, and other conditions, which could cause actual results to differ materially from those anticipated, including those risks identified in Hill๏ฟฝs filings with the Securities and Exchange Commission. Accordingly, such statements should be considered in light of these risks. Any prediction by Hill is only a statement of management๏ฟฝs belief at the time the prediction is made. There can be no assurance that any prediction once made will continue thereafter to reflect management๏ฟฝs belief, and Hill does not undertake to update publicly its predictions, whether as a result of new information, future events or otherwise. (HINT-G)