ABN AMRO, Deutsche Bank and Wachovia Bank arrange USD200 million syndicated term loan facility for United Gulf Bank

ABN AMRO Bank N.V. and Deutsche Bank AG acted as bookrunners (the 'Bookrunners') with Wachovia Bank, N.A. as the documentation and facility agent (the 'Facility Agent').

The Bookrunners launched the Facility on 4th April 2007 to senior banks with Arab Bank plc, Burgan Bank, Kuwait, Raiffeisen Zentralbank Österreich Aktiengesellschaft, The Arab Investment Company, First Commercial Bank, Mashreq Bank, Samba Financial Group, Standard Bank Plc, Sumitomo Mitsui Banking Corporation Europe Limited and UniCredit Group (represented by Bank Austria Creditanstalt AG and UniCredito Italiano S.p.A., Hong Kong Branch) joining the facility as Mandated Lead Arrangers.

Following a successful oversubscription at the close of the general syndication stage, the Borrower elected to increase the facility from the launch amount of USD125 million. The Facility has a five-year bullet maturity. The proceeds will be utilised for general corporate purposes including but not limited to supporting its investment banking activities and providing select customers of the Borrower with trade-related finance.

United Gulf Bank B.S.C is the investment banking subsidiary of Kuwait Projects Company (Holding) (KIPCO). It manages a regional network of investment/asset management companies and commercial banks in 11 countries. Its proprietary investments include assets in real estate, private equity, structured products and quoted securities. Assets under management exceed USD 5.7 billion. UGB's core subsidiaries and associates include: Algeria Gulf Bank, Al-Dhiyafa Investment Company, Bank of Baghdad, Jordan Kuwait Bank, KIPCO Asset Management Company (KAMCO), Manafae Investment Company, Tunis International Bank, United Gulf Bank Securities Company, United Cable Company, United Industries Company, United Real Estate Company, United Medical Services Company, United Gulf Financial Services Company, Syria Gulf Bank and United Warehousing & Cooling.

UGB and its subsidiary KAMCO have a proven track record of successfully completing around 58 investment banking transactions for its clients since 2001 with an aggregate value of over USD 3.6 billion including corporate finance, advisory, new issue placement and underwriting, corporate restructuring, bond issuance and merger and acquisition.

KIPCO is an USD 18 billion enterprise with major activities in financial services and media and a variety of other business sectors across the Middle East and North Africa. The group has substantial ownership interests in a portfolio of some 51 companies operating throughout the region and internationally.