KIPCO Open Investor Forums on financial outlooks

The KIPCO Open Investor Forums, organised by KIPCO Group member KIPCO Asset Management Company (KAMCO), is a series of three presentations involving KIPCO and its directly-held listed subsidiaries and associates, with free and open dialogue between company management and investors.

"We are opening the door to a new era of financial transparency for investors," said KIPCO managing director and chief executive officer Faisal Al Ayyar.

"As a regional business leader it is vital that investors have a clear insight into our companies' performances, strategies and potential. We believe the investment community in Kuwait, as well as regionally and internationally, will greatly welcome and benefit from this spirit of openness," he said.

KIPCO, with more than US$ 10 billion under management or control, is one of the leading diversified holding companies in the Middle East and North Africa whose activities encompass financial services, media & telecommunications, real estate and industry. It is largest private holding company in Kuwait and its shares are the most actively traded on the KSE.

KIPCO's 2003 profits soared 182 per cent to KD 18.2 million (US$ 61.8 million) and its portfolio of listed companies also recorded strong performances. KAMCO, a subsidiary of KIPCO's investment banking subsidiary United Gulf Bank (UGB) of Bahrain and the most Group company to list in the KSE, announced a 2003 profit leap of 198.5 per cent to KD 8.0 million (US$ 27 million).

The KIPCO Open Investor Forums will be held in the KSE auditorium after completion of the day's trading, with presentations by senior company management followed by question and answer sessions.