KAMCO Launches Private Equity Fund

KUWAIT CITY, 25 October 2004 — KIPCO Asset Management Company (KAMCO) yesterday announced the closing of a new private equity fund, Kuwait Private Equity Opportunities Fund, which will be focused on investing in private companies in Kuwait. The fund, with more than $45 million in commitments to be invested over the next four years, is structured in line with international standards for private equity funds. It will acquire significant stakes in private companies in Kuwait, and seek to increase the value of its investments by financial and operational improvements. The fund will exit its investments by trade sales or listing on the vibrant Kuwait Stock Exchange.