The International Investor retains GulfMerger to advise on strategic alternatives regarding CreditOne

CreditOne Holding Company - a fast-growing, Kuwait-based, Sharia-compliant consumer finance company - this is part of an ongoing review of its investment portfolio and efforts to transform CreditOne into a leading local, and potentially regional, consumer finance company.

CreditOne's consumer finance activities are currently carried out through Al Sayer Facilities - a wholly-owned subsidiary and previously the financing arm of Mohammed Naser Al Sayer & Sons, Kuwait's largest car dealership - which the company had acquired in August 2005 as part of a strategy aimed at establishing CreditOne as the leading consumer finance company in Kuwait.

Fadi Twainy, Head of M&A and Business Development of The International Investor, said "in the few years since its establishment in July 2005, CreditOne has succeeded in developing a strong position in the consumer finance market, particularly in the car financing arena, growing its market share from 4.3% in December 31, 2006, to 7.9% in September 30, 2007, and its earnings by 84% from KD1.5m in 2006 to an estimated KD2.8m in 2007."

Going forward, CreditOne plans to continue down the path to market leadership in the car financing arena while expanding into high-potential new business lines. Mr. Twainy commented "the company's capable management team, impressive distribution network, trusted brand all point to further gains in market share in the car financing arena and across new business lines. Considering the growth trajectory of the Kuwaiti consumer finance market, we expect CreditOne to deliver significantly higher earnings in 2008, potentially reaching in excess of KD5 million."

To assist with the review of its strategic alternatives, The International Investor has retained GulfMerger, an independent financial advisory firm focused on middle-market mergers, acquisitions, and strategic partnerships in the Middle East.

Yann Pavie, Chief Executive Officer of GulfMerger, said "in light of the robust macroeconomic and demographic trends fuelling the growth of the consumer finance market across the GCC, CreditOne represents an attractive platform for accelerated entry into, or achieving scale within, a very lucrative segment of the financial services industry at both the local and regional levels.

Moreover, considering the relative fragmentation of the consumer finance market and given that The International Investor together with other shareholders in CreditOne represent a controlling equity interest, we see opportunities to develop the company into a leading local, and potentially regional, non-banking consumer finance company through mergers, acquisitions or an outright sale. Obviously, any such sale would be expected to take place with a strategic or financial investor that sees the full potential of CreditOne in the context of consumer finance markets in Kuwait and across the region as a whole."