TLC to Buy Assets of US-Based Firm

MANAMA, 4 May 2004 — Bahrain-based First Islamic Investment Bank E.C. announced yesterday that its affiliate, TLC Holdings I Corp., has been selected as the winning bidder for the assets of United States-based Tender Loving Care Health Care Services, Inc. TLC Holdings has signed a definitive purchase agreement to acquire TLCs assets, it was reported yesterday with the financial closing expected to take place within the next few months. The total value of the transaction is expected to be in excess of $150 million.