Investment Dar Statement: Court Decision regarding Boubyan Bank shares

June 16, 2009

Further to TID's announcement on 14 June 2009 of the court case filed by TID before the Kuwaiti Courts disputing the agreement between the National Bank of Kuwait ("NBK") and the Commercial Bank of Kuwait ("CBK") for the purchase by NBK of the shares in Boubyan Bank allegedly held by CBK, the Court has ruled this morning (16 June 2009) the imposition of a stay in trading of the Boubyan Bank shares which TID strongly believes belong to The Investment Dar and its subsidiaries, being 221,425,059 shares (the "Shares"), but are registered in the name of the CBK on a temporary basis. The Kuwaiti Courts also ruled that the stay on trading of the Shares shall continue until such time as the Kuwaiti Courts rule on the disputed ownership of the Shares at a final hearing, currently set by the Kuwaiti Courts to be held on 9 September 2009 (case number 2730/2009) and, further, that CBK must pay TID's costs.