For Immediate Release April 18, 2012 Press Contact:

Emma Cunningham +44 207 389 2496 ecunningham@christies.com Eileen Wallis +971 4369 356 eileen.wallis@theportsmouthgroup.com

CHRISTIES APRIL SALES OF MODERN & CONTEMPORARY ARAB, IRANIAN AND TURKISH ART MAKE $6.4 MILLION PART I & II ARE 92% SOLD AUCTION RECORDS SET FOR 18 ARTISTS

Jussi Pylkknen, Auctioneer & President of Christie's Europe, Middle East, Russia & India selling Firat Nezirolus (Turkish, b 1981) Untitled Modern and Contemporary Arab, Iranian and Turkish Art April 17th and 18th, 2012

Sponsored by Zurich

Dubai Christies April sales of Modern and Contemporary Arab, Iranian and Turkish Art totaled $6,402,825 / AED23,515,190 against a pre-sale high estimate of $6.1 million. The sales were 92% sold by value. The totals for the sales were Part I - $4,016,300/AED14,751,870 and Part II $2,386,525/AED8,763,320. Michael Jeha, Managing Director of Christies Middle East and Head of Sale, said: The combined total for this, our 12th season in the Middle East, is an encouraging indication of the

continuing maturity and long term strength within this market. Tonight the saleroom was full and bidding was brisk. Much of this participation in the sale came from bidders in the room and this contributed to the lively atmosphere from collectors of all ages. Our part II sale is still in its infancy, this is only the second time we have used this format which is followed in Christies other international sale centres. The strong selling rate tonight of 93% shows that this was the right decision and the market is ready for this next step. It is really encouraging to see this market continue to flourish and to encourage the next generation of artists and bidders. About a fifth of the artists represented in the part II sale tonight were being sold at auction for the first time and were under 35. The highlight of the auction was the $46,300 raised during the sale of seven lots for the World Food Programme.
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Modern and Contemporary Arab, Iranian and Turkish Art Part II Dubai Wednesday, 18 April 2012 Sale no: 8058 Top Ten [All sold prices include buyers premium] Sold: Lots Sold: 99 Exchange Rate $= 3.672 $2,386,525 Lots Offered: 113 AED8,763,320 Sold by Lot: 88% Sold by $: 93%

Lot 106 116 102 103 122 114 144 124 111 164

Description Fateh Moudarres (Syrian, 1922-1999), Women at the Wedding, 1963 Safwan Dahoul (Syrian, b. 1961), Rve, 2000 Paul Guiragossian (Lebanese, 1926-1993), Intrieur, circa 1971-1972 Paul Guiragossian (Lebanese, 1926-1993), L'Adieu, 1962 Farhad Moshiri (Iranian, b. 1963), Tiny Stencil Blue Jar, 2005 Samia Halaby (Palestinian, b. 1937), Tiger's Eye in Late Winter, 1978 Youssef Nabil (Egyptian, b. 1972), Ehsan Crying, Cairo, 1997, 1997 Timo Nasseri (Iranian/German, b. 1972), Glance no. 5, 2010 Farid Belkahia (Moroccan, b. 1934), Nuit toile, 1994 Ali Shirazi (Iranian, b. 1960), Untitled, 2011

Estimate () 25,000 - 30,000 20,000 - 25,000 30,000 - 40,000 20,000 - 30,000 40,000 - 60,000 30,000 - 40,000 30,000 - 40,000 20,000 - 30,000 25,000 - 30,000 12,000 - 18,000

Purchase Price $80,500 AED295,596 $80,500 AED295,596 $74,500 AED273,564 $74,500 AED273,564 $74,500 AED273,564 $64,900 AED238,313 $64,900 AED238,313 $60,000 AED220,320 $60,000 AED220,320 $60,000 AED220,320

Buyer Middle Eastern Private Collector Middle Eastern Private Collector International Collector Private

Middle Eastern Private Collector International Collector International Collector Anonymous Anonymous Middle Eastern Private Collector Anonymous Private Private

Part I Total: $4,016,300/AED14,751,870 Part II Total: $2,386,525/AED8,763,320 Overall Total: $6,402,825/AED23,515,190 Press Contact: Comment: Emma Cunningham +44 7881 834447 ecunningham@christies.com

See separate press release attached.