ABC Islamic Bank (E.C) launches US$50 million Musharaka Sukuk for The Investment Dar Company (K.S.C)

ABC Islamic Bank is both the sole arranger and underwriter for the issue. The innovative Musharaka Sukuk structure has been approved by the Sharia'a Supervisory Boards of ABC Islamic Bank and The Investment Dar Company. The Investment Dar Musharaka Sukuk will enable investors to earn profits from a pool of Sharia'a-compliant assets which generate profits in a fully Sharia'a-compliant manner.

"The Investment Dar has a reputation for innovation and quality and we are both pleased and honoured to have had the opportunity to work with them to create what is the first fully private sector Musharaka sukuk to invest in this manner," commented Mr. Naveed Khan, ABC Islamic Bank's Managing Director.

Mr. Adnan Al Musallam, Chairman and Managing Director of The Investment Dar Co, extended his thanks and appreciation to the joint team of The Investment Dar Co and ABC Islamic Bank for their months of hard work, dedication and patience in achieving the same. He also commented that it is an honour for The Investment Dar to be associated with ABC Islamic bank which has made a name for itself in the regional finance and banking industry.

The Investment Dar, Kuwait's largest Islamic, non-banking investing and financing company, was established in October 1994 and provides a range of Islamic financial services, including consumer finance, investment services, brokerage and trading, real estate and fund management. It is regulated by the Central bank of Kuwait and its activities are mainly in Kuwait, Bahrain, Qatar and United Arab Emirates. It has a diversified portfolio of products and services with real estate and vehicle financing as the dominant segment of its operations and carries a Capital Intelligence BBB- rating with a stable outlook.

ABC Islamic Bank (E.C.) will be conducting road shows for investors on the following dates:
• Bahrain on June 15, 2005 (Ritz Carlton) at 11:00am
• Dubai on June 16, 2005 (JW Marriott) at 11:00am