KAMCO announces Private Equity Fund dividends

This was due to achieving lucrative returns as a result of exiting certain investments by the 30th of June 2008. These cash dividends represent 100% of the realized gains of these divestments in addition to the capital originally invested in these exited investments.

Mr. Anthony Kyprianou - Deputy CEO and Head of Financial Services and Investment Division at KAMCO announced that the Fund achieved net returns of 24% on the exited investments, after deducting all expenses and management fees. The Fund's NAV per unit reached KD1.103 as of 30th September 2008, representing a rate of return to unit holders of 23.2% since its inception.

Mr. Kyprianou also stated that the Fund has acquired stakes in various prominent unlisted companies, and is currently studying the potential divestment of its remaining investments over the medium to long term, which is expected to achieve attractive returns for the Fund's investors.

It is worth mentioning that Kuwait Private Equity Opportunities Fund commenced its operations in February 2005, with a capital of KD13.5m. The Fund's period is 8 years renewable, as the Fund aims to achieve lucrative returns over the long term through investing in unlisted securities in different sectors across Kuwait.

Moreover, Mr. Kyprianou stressed on the aptness and importance of quality Private Equity Funds to high net worth individuals, as well as institutional investors due to their attractive risk - return profile.

Therefore, due to the success of current KAMCO managed Kuwait Private Equity Opportunities Fund, which is now closed, KAMCO is planning to launch a new Private Equity Fund in 2009 with a dynamic and appropriate investment strategy across all sectors across the GCC and MENA region.

KAMCO is a leading investment company in Kuwait, providing financial and investment solutions and products to its clients since its establishment in 1998. The company has assets under management exceeding KD3bn, and is a member of Kuwait Projects Company (KIPCO) Group.

KAMCO offers its clients a wide and integrated range of financial and investment services and products, where its activities include Asset Management, Portfolio Management, IPO'S and Private Placements, Fund Management, Advisory Services, Corporate finance service and Private Equity products and services.

KAMCO Private Equity Department, in addition to managing Kuwait Private Equity Opportunities Fund, also manages Kuwait Education Fund, a specialized fund dedicated to the development of the Education Sector in Kuwait. Established in collaboration with the National Offset Company, this Fund provides Offset Investors a multiple of 5 times their offset obligation, which is the highest multiple provided by a Fund in Kuwait.

The Private Equity Department of KAMCO also manages National Investment Fund Portfolio for small and medium size projects on behalf of the Kuwait Investment Authority, with a Capital of up to KD15m. The Fund aims to assist Kuwaiti citizens to establish small to medium sized private businesses.