Markaz Islamic Fund Posts 39.3% Year-to-Date Outperforming its Benchmark by 9.3%

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Markaz Islamic Fund Posts 39.3% Year-to-Date Outperforming its Benchmark by 9.3% 16 - Jul - 2007

Kuwait Financial Centre S.A.K. “Markaz”, one of the leading investment banking and asset management companies in the Middle East, announced its local funds Year-to-date and performance as of end of June. Markaz Islamic Fund performed at 6.8% Month-to-date, and 39.3% YTD, outperforming Al Mal Sharia index by 9.3% on a year-to-date basis. Markaz Fund for Excellent Yields 'Mumtaz', winner of two Lipper – Reuters funds awards in 2007 performed at 3.1% in June, and 44.5% YTD, outperforming the KIC index, by 13.85% on a year-to-date basis. Markaz Investment & Development Fund "MIDAF" posted 1.7% for the month of June and 26.4% since the beginning of the year, relative to KIC index at 30.65% YTD. Markaz Forsa Financial Fund, a fund that invests in the options market, returned 4.0% for the month of June, and 24.8% since the beginning of the year. Commenting on the market performance, Bader Alghanim – Vice President, Local and GCC Investment Department of Markaz, said "The Kuwait Stock Exchange maintained its bull run and reached record levels during June, breaking the barrier of 12000 points. This was reflected on the investment and banks sectors and driven by buying transactions, especially in the Islamic segment. Additionally, it is expected that these sectors will post excellent results." Alghanim added "The month of June was full of events, and the most prominent were the reduction of the yields on government bonds by CBK; the closing of the subscription to KFH’s capital increase; the issuing of court judgments to release the “neutralization” of Al Khorafi Group’s shares; and the announcement by Public Warehousing Company (Agility) of winning a huge contract with the US Department of Defense, all of these contributed to positive market activity." Alghanim continued "The options market maintained its impressive performance since the beginning of the year, with volume of traded shares till the end of the first half of the year reaching 465,590,000 shares distributed over 12,586 deals, with a total value of KD 24,309,551. We expect further growth in the coming period, given the increasing focus on this relatively new investment tool, particularly with the outstanding performance of the market and the need for an investment instrument that provides leverage to portfolios and enhances profits". Kuwait Financial Centre S.A.K. 'Markaz', with total assets under management of over KD. 1.21 billion as of 31 March 2007, was established in 1974, and has become one of the leading asset management and investment banking institutions in the Arabian Gulf Region. Markaz was listed on the Kuwait Stock Exchange (KSE) in 1997; and was awarded a BBB+ corporate rating by Capital Intelligence Ltd. -Ends- Photo Caption: Bader Alghanim – Vice President, Local & GCC InvestmentsKuwait Financial Centre S.A.K. “Markaz”, one of the leading investment banking and asset management companies in the Middle East, announced its local funds Year-to-date and performance as of end of June. Markaz Islamic Fund performed at 6.8% Month-to-date, and 39.3% YTD, outperforming Al Mal Sharia index by 9.3% on a year-to-date basis. Markaz Fund for Excellent Yields 'Mumtaz', winner of two Lipper – Reuters funds awards in 2007 performed at 3.1% in June, and 44.5% YTD, outperforming the KIC index, by 13.85% on a year-to-date basis. Markaz Investment & Development Fund "MIDAF" posted 1.7% for the month of June and 26.4% since the beginning of the year, relative to KIC index at 30.65% YTD. Markaz Forsa Financial Fund, a fund that invests in the options market, returned 4.0% for the month of June, and 24.8% since the beginning of the year. Commenting on the market performance, Bader Alghanim – Vice President, Local and GCC Investment Department of Markaz, said "The Kuwait Stock Exchange maintained its bull run and reached record levels during June, breaking the barrier of 12000 points. This was reflected on the investment and banks sectors and driven by buying transactions, especially in the Islamic segment. Additionally, it is expected that these sectors will post excellent results." Alghanim added "The month of June was full of events, and the most prominent were the reduction of the yields on government bonds by CBK; the closing of the subscription to KFH’s capital increase; the issuing of court judgments to release the “neutralization” of Al Khorafi Group’s shares; and the announcement by Public Warehousing Company (Agility) of winning a huge contract with the US Department of Defense, all of these contributed to positive market activity." Alghanim continued "The options market maintained its impressive performance since the beginning of the year, with volume of traded shares till the end of the first half of the year reaching 465,590,000 shares distributed over 12,586 deals, with a total value of KD 24,309,551. We expect further growth in the coming period, given the increasing focus on this relatively new investment tool, particularly with the outstanding performance of the market and the need for an investment instrument that provides leverage to portfolios and enhances profits". Kuwait Financial Centre S.A.K. 'Markaz', with total assets under management of over KD. 1.21 billion as of 31 March 2007, was established in 1974, and has become one of the leading asset management and investment banking institutions in the Arabian Gulf Region. Markaz was listed on the Kuwait Stock Exchange (KSE) in 1997; and was awarded a BBB+ corporate rating by Capital Intelligence Ltd. -Ends- Photo Caption: Bader Alghanim – Vice President, Local & GCC Investments