Initial portfolio dividend declarations

Al Manar Financing & Leasing Company ("Al Manar"), a Kuwaiti financing and leasing firm which provides Islamic financial lending products and services across a variety of consumer durables, declared a dividend of 10 fils per share ($0.04) (representing a dividend payout of 66%) to its shareholders during its annual general assembly meeting on 10 July 2008.

Al Manar also continued its excellent growth, reflected by a 52% increase in its profit to KD4.6m ($17.3m) for the year-ended December 2007.

Al Manar has been a benficiary of the growth of Islamic finance in the region.

Al Soor Financing & Leasing Company ("Al Soor"), a Kuwaiti financing and leasing firm that targets small and mid sized clients, declared that it will be distributing a dividend of 8 fils per share ($0.03) (representing a dividend payout of 62%) to its shareholders during its annual general assembly meeting on Tuesday 15 July 2008.

As well as continuing to be a high dividend paying company, Al Soor continues to demonstrate strong growth.

The company approved its audited financial statements at the meeting which reflected the strong growth it has seen for the year ended 31 March 2008.

Al Soor reported a net profit of KD6.5m ($24.5m) with net revenue of KD12.3m ($46.3m).

Shailesh Dash, CFA - Managing Partner, Global Capital Management Ltd, commented: "Our belief in the financial services sector of the region is manifested in the performance of our portfolio companies. We expect further value creation for GMFA shareholders as the companies progress towards listings in regional/international markets".