The Investment Dar Co. announces its restructuring plan

"The world's economy is currently experiencing the worst global liquidity environment in living memory. Access to the debt markets remains very restricted and the availability of investment capital in this harsh global financial crisis is particularly limited. TID is an integrated part of the global economy with a worldwide asset base and, in common with other institutions, faces increased pressure on cash flow as it adjusts to the tight credit conditions,"

said the Senior Executive Vice President of The Investment Dar, Amr Abou ElSeoud.

The Company has today advised stakeholders in TID that it intends to propose the restructuring plan to its banks and investors at a meeting on 16 March 2009 in Kuwait and to enter into a close and constructive dialogue with those parties to reach a mutually acceptable solution to best maximize value for TID's stakeholders. For the avoidance of doubt, the day to day activities of TID and its commitments to its portfolio companies, suppliers and customers will continue during this period.

The restructuring plan and the interests of TID's stakeholders may be affected by the outcome of the financial rescue proposals being considered by the Kuwaiti Parliament. TID will continue to work within the legal and regulatory framework to determine a solution which will maximize value for its stakeholders.

"We are working closely with TID to explore potential solutions to TID's current financing requirements and look forward to initiating a dialogue with its banks and investors as soon as practicable," Marisa Drew, EMEA Co-Head of the Global Markets Solutions Group at Credit Suisse; commented.

"The Investment Dar is one of Kuwait's premier financial institutions with a portfolio of strong assets and an excellent historical track record of value investment. The Company has decided to take action to enable it to efficiently expedite a restructuring proposal that can be put to its banks and investors. We believe in the long term value of The Investment Dar and as part of our pro-active plan to reach this objective we have undertaken a programme of cost cutting internally and are working hard towards a satisfactory solution to our financing issues. The Company is well placed to withstand the difficulties of the current credit market conditions," said The Investment Dar Chairman and Chief Executive Officer, Adnan Al Musallam.