KAMCO 2005 third quarter profit leaps 81.44 per cent to KD 12.67 million

Total shareholders' equity in the 2005 third quarter surged 38.76 per cent to
KD 66.15 million (US$ 226.5 million), compared to KD 47.7 million
(US$ 163.4 million) in the same period last year.

Total assets also increased in the 2005 third quarter, up 28.82 per cent to
KD 116.17 million (US$ 397.8 million), against KD 89.1 million
(US$ 305.1 million) in the 2004's third quarter.

KAMCO chairman Masaud Hayat said:

"These results demonstrate profitability and our willingness to grow. It is particularly pleasing that our continued dedication consistently produces profitable results."

In the full year 2004, KAMCO posted net profit of KD 8.1 million
(US$ 27.7 million), or 37.8 fils (13 cents) per share.

KAMCO, a subsidiary of United Gulf Bank (UGB), KIPCO's investment banking subsidiary, has assets of US$ 5.84 billion under management or control, a portfolio of some 557 companies and individuals, and more than 120 employees throughout its operations.

KAMCO's core operating companies are United Industries Co. (UIC) the specialized industrial investor in the oil, gas and foodstuffs sectors of the GCC and its neighboring countries; Gulf Egypt Hotels and Tourism (GEHT), a
five-star hotel and tourism company operating from Cairo which holds a major stake in the luxury Sheraton Heliopolis; and United Medical Services (UMSC), Kuwait's leading health care provider with fast-growing services in dental and general health care.