Financial Restructuring Update

June 10, 2009

Kuwait - 10 June 2009 – The Investment Dar Co. K.S.C. (Closed) held its latest financial restructuring update meeting in Dubai on Monday 8 June 2009 with its banks and investors. The meeting was held to update attendees on the progress of the current restructuring process of TID’s financial obligations, the official appointment of the Steering Committee and its advisors and the progress of their activities.

The Steering Committee’s purpose is to serve as an efficient liaison between TID and its banks and investors and to facilitate discussion between the parties with a view to agreeing to a mutually consensual restructuring of TID’s financial obligations as soon as possible. The Steering Committee has appointed Morgan Stanley as its financial advisor. TID believes that the establishment of the Steering Committee will allow TID to communicate more effectively with its banks and investors and will accelerate the pace of the proposed financial restructuring process.

Further to previous announcements by TID, the 2008 audit process is ongoing and the audited financial statements for the year ending 2008 are currently expected to be completed in June 2009. Once approved by the Central Bank of Kuwait and the Kuwait Stock Exchange, the audited financial statements will be publicly announced.

TID looks forward to working with the Steering Committee and its advisors to expeditiously achieve the best possible outcome for all of its stakeholders through the financial restructuring process.

While TID supports the vital role that the media plays in communicating the Company’s messages to its bank, investors and shareholders, the Company refutes a misleading local Kuwaiti newspaper article regarding proceedings at its meeting on 8 June 2009. TID confirms that the article was wholly inaccurate and misleading as it clearly relied upon baseless information. TID was not contacted by the newspaper in question for clarification.