Global Investment House hails move by The Investment Office

The company looks forward to further alliances with leading investment institutions.

Mrs. Maha K. Al-Ghunaim, Global Vice Chairman and Managing Director said, "We are very pleased that The Investment Office (Dubai Holding Co.) owns over a 5% of our company. We consider this step as a sign of trust in Global performance in the past few years and especially last year, in which our financial results were impressive."

She pointed out that this move highlights Global investment and financial success, accomplished since the company's inception back in 1998.

For the fiscal year ending 31 December, 2004, Global posted net profits of KD 21.3 million (USD 72 million), revenues of KD 29.2 million, and KD 1.037 billion of assets under management, a 104 fils earnings per share (EPS) and a return on equity of 63%. The company also launched major investment projects outside Kuwait in Bahrain, Oman, Jordan, Sudan, and elsewhere.

"This ownership is a result of our cooperation and dynamic relationship with The Investment Office (Dubai Holding Co.)," she added. Al-Ghunaim stressed that Global appreciates this relationship and looks forward to enhance it through distinct projects in the near future.

Finally, Mrs. Al-Ghunaim reiterated Global outlook towards Dubai as a major business center and hopes to widen the range of its investments to other Emirates and countries in the region.