Investment Dar Restructuring Progress Update

November 14, 2009

Kuwait City – 12 November 2009 - The Investment Dar Co. K.S.C.C. announces that the Company and the Coordinating Committee of TID's banks and investors will present the terms of a proposed restructuring plan to TID's banks and investors at meetings in Kuwait and Dubai on 24 and 25 November respectively.



Such agreement represents the culmination of a constructive period of negotiation between TID and the Coordinating Committee, throughout which every effort has been made to continue to treat all TID’s banks and investors equally and to produce a consensual restructuring plan.



Invitations are being issued to TID’s banks and investors to attend meetings in Kuwait and Dubai on 24 and 25 November respectively, at which the proposed restructuring plan will be discussed further. Following which, TID’s banks and investors will have a period to review and consider approving the proposed restructuring plan.



Adnan Al Musallam, Chairman and Chief Executive Officer of Investment Dar commented: 

“We look forward to discussing the proposed restructuring plan with our banks and investors and we remain fully committed to the consensual restructuring process.”