Abdul Rahman Al Daoud: Distinct financial results reflecting the Company’s strategic vision

• 26.67% Average rate of return on the capital.
• Shareholders equity: It increased by 18% in comparison with year 2006 and the amount thereof reached around 76.5 million Kuwaiti Dinars.
• Profit net amount: 13.3 million Kuwaiti Dinars and the earning per share reached 26.7 Fils while the total assets reached around 113 million Kuwait Dinars.

The General Assembly of Al Dar Investment Assets Management Company (ADAM) held yesterday (Sunday, June, 29 2008) a meeting regarding its financial year ending on December 31, 2007 and it endorsed all the items existing on the agenda.

Distinct Financial Performance

Mr. Abdul Rahman Al Daoud, General Manager of the Company, announced following the meeting of the ordinary General Assembly that the Company realized net profits whose amount reached around 13.3 million Kuwaiti Dinars at the end of 2007, while the Earning Per Share reached around 26.67 Kuwaiti Fils; in addition, the total revenues reached the amount of 16.3 million Kuwait Dinars, while the expenses reached around 2,9 ,million Kuwaiti Dinars; as for the total assets, the amount thereof reached around 113 million Kuwaiti Dinars. The shareholders total equity reached the amount of 76.5 million Kuwaiti Dinars and the average rate of return on the company’s assets reached 11.80%, while the average rate of return on the shareholders equity reached 17,44% and the average rate of return on the company’s capital reached the amount of 26.67%.

A Unique Business Strategy

Mr. Al Daoud added: These special results realized by the Company during three successive years were the results of the unique business strategy adopted by the Board of Directors; and it has been interpreted through a series of products, activities and tools, noting that what has been realized complies with the goals that the Board of Directors promised to the shareholders concerning the fact of keeping the Company safe and seeking to realize the best revenues thereto.

Successive Performances

Furthermore, Mr. Al Daoud discussed the performance that has been achieved by “ADAM” throughout the past period and said: the last period witnessed the realization of a lot of important achievements which formed an important turnover in its rich journey and these progresses were up to the challenges, noting that these most important developments have been represented by the following:

• The launching of a lot of new and creative investment products and tools to the Company’s agents; and amongst these investment opportunities launched by the Company throughout 2007, was the Real Estate Golden Portfolio, which was represented by the purchase of a plot of land in Al Tay Area (Al Souyouh) in Al Sharqa Emirate in the State of the United Arab Emirate; upon establishment, the portfolio reached the amount of 315 million Emirate Dirham (i.e. the equal of 24.8 million Kuwaiti Dinars) for a period of 18 months (one year and a half), and after 6 months, dissociation occurred from the portfolio, and the portfolio realized an annual revenue which reached 25,9% per year; this opportunity was welcomed by the investors, the agents and the companies, due to the important revenue.
• In parallel, “Adam” Company contributed in the establishment of various companies operating in various sectors, the most important of which are as follows:
• Contribution in the incorporation of the Investment Dar Bank (An investment bank in the Kingdom of Bahrain) in cooperation with a group of strategic shareholders.
• Establishment of various companies operating in the various vital sectors, in such a manner that realizes integration in activities and servers the Company’s objects.
• The Company is about finishing the establishment of a Saudi shareholding real estate company, which is “Manazel International Company” with a declared capital of 300 million Saudi Riyals, and which is a company specialized in the housing sector in the Kingdom of Saudi Arabia.
• The Company also proceeded in the incorporation of an investment company in the Kingdom of Saudi Arabia under the name of the Gulf Funds House Company, with a capital of 50 million Saudi Riyals and it is expected to obtain the final approval for the company’s establishment throughout 2008.
• The Company’s administration succeeded in elaborating the initial core of the establishment of a new sector competent in the financing activities; the activity strategy was elaborated and the financial needs and goals of the management have been fixed during 2008 AD.
• In addition, the Company launched in the middle of 2007 AD, the elite funds which is specialized in investment in companies listed in all the Kuwait Stock Exchange sectors and which complies with the provisions of the Islamic Shariaa.
• During last year, the Company launched Adam fund for real estate investment in the Republic of Singapore, in cooperation with a number of large consultation companies.
• The Company is currently working on offering the Electronic Trading Services, which are expected to be offered throughout the present year, if God wills.

Special Funds and Successful Performance

“Adam” Company’s funds have realized special revenues for the units’ owners. Al Dar Funds for Securities which is investing in the shares listed and unlisted in the Kuwait Stock Exchange and in the Gulf markets that operate as per the Islamic Shariaa provisions has realized a revenue by 13.91% since the beginning of 2008 and a revenue of 129,95% since the establishment, while the revenue of 2007 AD has reached 20.29%. Moreover, the Elite Funds investing in the listed and unlisted shares observing the Islamic Shariaa realized a revenue which reached 5,69% since the beginning of the year. Al Dar Funds is considered as the first fund of its kind in Kuwait, thus realizing a revenue of 6.21% since the beginning of year 19.71% since establishment, while the revenue of 2007 AD reached the rate of 10.68.

Furthermore, Al Dar Real Estate Fund reached the amount of 4.12% since the beginning of the year and 78.06% since the establishment thereof, while the revenue of 2007 reached the rate of 14.03%. In addition, Al Dar Financial Fund realized another achievement by occupying the first position for the second successive year amongst the national competition funds thus realizing a revenue of 8.0% since the beginning of the year and 30.32% since the establishment, while the revenue reached 7.95% in 2007.

Mr. Al Daoud also stated that the Company is currently seeking to diversify its investments locally and regionally, whereas it shall soon launch a Fund for Investment in the securities in the States of the Gulf Cooperation Council, in addition to a new investment fund of various activities; as they also have the intention to expand the investments in the Gulf Cooperation Council States, particularly in the Kingdom of Saudi Arabia, in cooperation with the Saudi Company which is contributing directly, especially in the sector of real estates, services and investment.

Within the same framework, the company is also seeking to invest in the European and American markets.

Resolutions of the Ordinary General Assembly