The Investment Dar and the reconstituted Coordinating Committee meet with banks and investors

17 January 2011

The Investment Dar KSCC together with its reconstituted Coordinating Committee met with its banks and investors in Dubai to discuss the latest status on the Company’s business and investments and to present fresh ideas on potential enhancements to the restructuring plan presently with the Special Circuit Court of Appeal in Kuwait.

The intention is that the prospective enhancements discussed in the meeting should align the interests of all stakeholders, comply with the recently announced Central Bank of Kuwait ratios, encourage the approval of the court and improve overall returns for banks on their exposure by allowing sufficient time for asset values to continue to recover whilst meeting an agreed payment schedule. TID and the Coordinating Committee explained jointly to the banks and investors who attended the meeting that the quick implementation of an enhanced plan would be to the benefit of both the banks and the Company’s shareholders.The Company and Coordinating Committee look forward to holding the meeting for Kuwaiti banks and investors on January 18th.