Global lead manages private placement for Iraq Holding Company and Al-Tameer Real Estate Investment Company

Mr. Omar Mahmoud El-Quqa, Exeutive Vice President at Global, said that Global will lead manage the private placement for IHC and Al-Tammer to increase the number of their shareholders in accordance to KSE's conditional listing approvals.

As of Monday November 7 until Monday the 14th, Global start accepting private placement requests for IHC and Al-Tameer," he added, pointing that he expects a high demand on both companies.

He explained that 120 million of IHC at a value of 35fils per share and 40 million shares at 230fils per share for Al-Tameer will be offered for placement to help increase the number shareholders.

Mr. El-Quqa affirmed Global role in encouraging companies to get listed, which is inline with its strategic business aim to boost the capital markets size and activity in Kuwait and the region. He noted that to date, Global has helped list 13 companies on KSE amounting with a total market cap. of KD2.2 billion.

He mentioned that the expected listing date for IHC and Al-Tameer on KSE would be before the end of 2005.

IHC was incorporated in 1998 and in June 2003 raised the authorized capital through the issuance of 595 million share, to reach 600 million shares with a capital of KD 60 million. IHC's objective is to collaborate with Iraqi entities in creating and capitalizing on opportunities of mutual benefit.

IHC was established to work with Iraqi entities on the modernization of Iraq. IHC's mission is to collaborate with Iraqi companies in creating and capitalizing on opportunities of mutual benefit in various sectors such as banking, insurance, cement industries, logistics, telecomm, consumer and housing finance, private education, healthcare and entertainment, among others.

IHC has numerous projects under its wing that range from Islamic Takaful Insurance , an Islamic, and the management of a two-million dollar portfolio in the Iraq Stock Exchange.

Al-Tameer is a Kuwaiti shareholding Company, first established as "Kuwait Al-Tameer Company" in 17 August of 1978. Al-Massaleh Real Estate Company (KSCC), a publicly listed company, has full ownership and management of the Al-Tameer.

Al-Massaleh is considered one of the leading companies in the real estate sector in Kuwait and the Gulf region. It has a long experience and a successful track record in all different types of real estate.

After the successful completion of this pre-IPO placement, the Company will be able to list on the KSE after satisfying all requirements of the KSE. Listing is likely to take place before the end of 2005.

Global is a full-fledged investment company incorporated in 1998. Its underlying foundation is to meet the high expectations of local and international clients, and to enhance the investment service industry in Kuwait and the region. Today, Global stock lists on the Kuwait Stock Exchange, Bahrain Stock Exchange, and Dubai Financial Market.

The company has accomplished much since the company's inception, and has been vigorous in developing the capital markets. Global's Assets Under Management crossed the KD1.4 billion (USD5 billion) threshold at the end of last August, then reached KD1.7 billion (USD5.9 billion) by the end of September 2005.

Global's achievements have been recognized on local, regional, and international levels and have been recently awarded "Best Equity House in Kuwait" from Euromoney Magazine, "Gulf Excellence Award" from the Gulf Excellence Company in Bahrain.