Global Investment House receives US$75 Million syndicated term loan facility

In order to support Globals expansion strategy in the GCC and MENA Region.

Mrs. Maha Al-Ghunaim, Vice Chairman and Managing Diretor of Global said,

"We are delighted to announce that we have mandated WestLB to raise a USD75 million syndicated loan that will help strengthen our ability to meet the ever increasing expansion of our activities as a result of the confidence given to us by our clients over the years."

In addition, Al-Ghunaim added that due to the strong appetite from regional and overseas Banks the syndication was increased to USD75 million.

During the general syndication WestLB was joined by Abu Dhabi Commercial Bank and the State Bank of India, Bahrain as Co-Arrangers; Bank Muscat (S.A.O.G), Emirates Bank International PJSC, Persia International Bank Plc, Tunis International Bank and Union National Bank as Lead Managers; and Hua Nan Commercial Bank Ltd., London Branch, Attijariwafa Bank Europe, Banque BIA and Jordan International Bank Plc as Managers.

Mr. David Pepper, Executive Director of WestLB London Branch said, "We are very pleased to be mandated for this syndication and we have full confidence and trust in Global's strength in the financial industry."

He added, that the increase syndicated loan facility of USD25 million raised is a good indication of the credibility and perception of Global being one of the leading financial institutions in the GCC and MENA region.

Global Investment House, regulated by the Central Bank of Kuwait and listed on the Kuwait, Dubai, and Bahrain stock exchanges, was founded in 1998 and is engaged in providing investment banking and related financial services. Employing over 350 specialized staff in which the Company operates in three main segments: Local and GCC Investments, Corporate Finance and Treasury, and Investment Funds. It develops and markets value-added, consumer-preferred financial products and services.

Worth noting that the Company's market share expands geographically across the GCC, offering value-added services and significant returns to its vast investor base in Kuwait, Bahrain, Saudi Arabia, UAE, and Oman, and caters to more than 4,000 corporate and retail clients.

As at 30 June 2006 the Company had an asset base of KD467 million (US$ 1.610 billion), shareholders' equity of KD209 million (US$721 million) and recorded net revenues of KD49 million (US$169 million) for the first 6 months of 2006 compared to KD26 million (US$ 90 million) in the same period during 2005.

For the 2005 fiscal year, the Company's assets under management increased by more than 80% from an estimated US$3.42 billion in 2004 to US$6.26 billion, demonstrating their large and diversified revenue base and strong presence in the GCC markets. Raising over US$2.54 billion in equity financing and generating more than US$5.58 billion of capital markets business from its clients making it the leading financial institution house in Kuwait.