Letter from the Chairman

Dear Valued Partners,

The first half of 2009 saw some of the largest financial institutions in the world crumble. We saw the collapse of the property market in the United States, Europe, and parts of the Gulf. Lending came to a virtual stand still as the viability of the US Dollar itself came into question by economists all over the world.

Despite the turmoil surrounding us, however, the first half of 2009 saw the Crescent Global Group's GWP rise almost 40%. It saw us take on more staff to service our customers, the development of online platforms to service our customers, and our expansion around our core into human capital consulting, publishing, strategy consulting, and private client services.

Our London platform has also made tremendous progress. From our European headquarters, we are now serving customers in the United States, Europe, Africa, the Middle East, Asia, and Australia.

Our formula for success continues to be keep it simple, keep it grass roots, and focus on what we do best, serve our customers.

Yours Faithfully,

Jamil R. Bahou
Group Managing Director
Crescent Global Group