The Board of Directors met on Tuesday 21/10/2008 and approved the cancellation of the capital increase subscription along with canceling the decision of the extraordinary general assembly meeting of the company held on 5/5/2008 to approve this capital increase by 25%. The Bank of Kuwait and the Middle East will repay the funds collected from the shareholders.

Note : The Company’s general assembly held on 5/5/2008 and had agreed to increase its capital by 25%. The new shares were to be issued at a par value of 100 fils/share plus an issue premium of 800 fils/share to all the shareholders registered in the company’s record as at the date of the General Assembly meeting.