KUWAIT CITY, 27 June 2005 — KIPCO Asset Management Company (KAMCO) has announced the offering of 200 million shares of Manfa’e Investment Company for private placement. Manafa’e, a Kuwaiti closed shareholding company (under incorporation) with a capital of KD20 million ($68.5 million), will operate in accordance with the regulations of the Ministry of Commerce & Industry, and the Central Bank of Kuwait. The company’s business activities will be in compliance with Islamic Shariah. Manafa’e will seek a leading position in the field of Islamic financial services by offering innovative investment tools. Its major business activities will be asset management and investment services, real estate investment and financing, financing services, advisory services and corporate finance.