Markaz: Successful Completion of KPPHC 100% Capital Increase

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Markaz: Successful Completion of KPPHC 100% Capital Increase 30 - Oct - 2007

Kuwait Financial Centre “Markaz”, one of the Middle East’s leading investment banking and asset management companies, announced that, as the Underwriter and Lead Manager, it has successfully completed the capital increase of Kuwait Privatization Projects Holding Company. The 100% subscription reflects the investors' trust in KPPHC's performance and management. The 100% capital increase was done through rights issue, whereby 378 million new shares were offered for subscription at a par value of 100 fils and a premium of 75 fils per share. Commenting on the transaction, Mr. Mithqal Al Sartawi, Managing Director at Kuwait Privatization Projects Holding Company said "Markaz was appointed as a Lead Manager and Underwriter on account of its proven expertise in the field of corporate finance and investment banking and its track record in managing such transactions in recent past". Al Sartawi further added "Thanks to the successful capital increase, KPPHC shall be able to pursue its strategy and business plan aiming at investing in companies and projects in the field of energy generation, distribution and management, in addition to investing in water desalination and treatment through distribution networks, health and education sectors in the Middle East and other developing countries" Kuwait Financial Centre S.A.K. 'Markaz', with total assets under management of over KD1.40 billion as of June 30, 2007, was established in 1974 and listed on the Kuwait Stock Exchange (KSE) in 1997. Markaz has grown to become one of the leading asset management and investment banking institutions in the Arabian Gulf Region; and was recently awarded a BBB+ corporate rating by Capital Intelligence Ltd. -Ends- Caption: Mr. Mithqal Al Sartawi, Managing Director at Kuwait Privatization Projects Holding Company