Sunday Business Post September 30, 2001 

Copyright 2001 Financial Times Information  
All rights reserved  
Global News Wire  
Copyright 2001 Sunday Business Post   
Sunday Business Post 

September 30, 2001 

LENGTH: 312 words 

HEADLINE: US PRESIDENT'S FATHER WAS IN BUSINESS WITH BIN LADEN'S FAMILY 

BYLINE: FRANK CONNOLLY 

BODY: 

Dublin, Ireland, 30 September, 2001 The Saudi family of Islamic dissident Osama bin Laden 
invested $ 2 million in 1995 in a company in which former US president George Bush Senior 
has a controlling interest. 

According to Washington sources, the bin Laden family committed $ 2 million to
Carlyle Partners 11 Fund through a London investment arm. 

The fund raised $ 1.3 billion for the purchase of several aerospace companies
in 29 business deals. So far, the family has received $ 1.3 billion in completed investments 
and has made a profit of 40 per cent a year on its investment, the Wall Street Journal 
said on Friday. 

The Carlyle Group's directors include deputy US defence secretary Frank Carlucci, and Jim 
Baker, a key adviser in the former president's administration. 

The group has major interests in some of the largest US defence contractors, including 
Lockheed Martin and General Dynamic. 

The involvement of Bush Senior with the bin Ladens follows earlier revelations about his son, 
President George W Bush, who had dealings some years ago with a member of the bin Laden family 
in the construction business. 

Last week, President Bush announced that his government would freeze the US assets of any 
companies or banks which were found to have any financial involvement with bin Laden's Al-Qaeda 
network or with a range of other banned organisations. 

The CIA used the bin Laden family to funnel cash to the Afghan resistance against the 
Soviet occupation in the 1980s. George Bush senior was director of the CIA before he became 
president in 1988. 

Osama bin Laden's father asked him to take charge of the operation to siphon millions of 
dollars from the Gulf into the Afghan guerrilla movement. 

The bin Laden group in Saudi Arabia is heavily involved in the country's construction 
industry and enjoys close ties with the Saudi royal family. 

JOURNAL-CODE: FSBP 

LOAD-DATE: October 2, 2001