ABC Islamic Bank (E.C) closes USD100 million Al Musharaka Sukuk for The Investment Dar Company (K.S.C)

The ceremony was attended by senior management of The Investment Dar Company, Arab Banking Corporation (B.S.C.), investors Mr. Hussain Al Meeza, Board Member & Executive Committee Chairman, Amlak Finance; Mr. Mohammed Abdullah, AGM, Sharjah Islamic Bank; Mr. Abdullah Showaiter, GM, Emirates Islamic Bank; Mr. Enrico Grino, Qatar National Bank Al Islami and representatives of other investors in the Sukuk. Representatives from the Bahrain Monetary Agency and the Ministry of Commerce were also present.

Sukuk placement received strong support from the market. As a result of a significant oversubscription, the Sukuk is to be increased from the initial US$50 million to US$100 million. Please see the attached for a list of participating investors.

At the signing ceremony, Mr. Adnan Al Musallam, Chairman and Managing Director of The Investment Dar Company commented on the outstanding performance of the Company and thanked the investors for their support and the teams of both organizations who worked on this financing. Mr. Naveed Khan, Managing Director of ABC Islamic Bank (E.C.) commented, "This marks the culmination of a very successful transaction and is the result of some serious effort put in by everyone over the summer." He further added, "Investor appetite was twice what was anticipated. The measure of success can also be gauged by the breadth and geographic spread of the investors in the Sukuk. This is a debut issue for The Investment Dar and it speaks volumes for the company and the quality of its management. The ceremony is our way of saying thank you to the company for entrusting us with this task, and to all the investors for making this a landmark transaction."

The Investment Dar Company ('TID') is a Kuwaiti Islamic investment and finance company established in 1994. TID provides a range of Islamic services, including consumer finance, investment services, brokerage and trading, real estate and fund management. TID has a diversified portfolio of products and services with real estate and vehicle financing as the dominant segment of its operations, and is listed on the Kuwait Stock Exchange. For the financial year ended 31 December 2004, TID's net profit stood at KD26.8 million, a more than twofold increase over the previous financial year, whilst total assets and equity were KD335.9 million and KD113.2 million, respectively. Furthermore the profit for the first half of 2005 was KD35.5 million, proving a continuation of the performance.