IFA Arranges US $50m Financing From Kuwait International Bank for Al Wafir Marketing Services Company

  IFA Arranges US $50m Financing From Kuwait International Bank for Al Wafir
                          Marketing Services Company

  PR Newswire

  KUWAIT CITY, April 4, 2013

KUWAIT CITY, April 4, 2013 /PRNewswire/ --

Kuwait's International Financial Advisors KSCC ("IFA") announced today the
closing of a 5 year term loan facility between Al Wafir Marketing Services
Company KSCC ("Al Wafir") and Kuwait International Bank KSC ("KIB") for an
aggregate amount of KD 14 M (approximately US$ 50 Million). IFA acted as the
arranger and sole advisor to Al Wafir on this deal.

Othman Al Sumait, Chairman of Al Wafir, said: "This new facility will extend
our maturity profile and will fund cost-efficiently the future growth of our
operations. As the exclusive BOT operator of Kuwait's central wholesale market
for fruits & vegetables, Al Wafir plans to leverage its expertise by entering
into a number of businesses related to the food supply chain. We expect this
expansion strategy to greatly enhance shareholders value and to position Al
Wafir as a leading player in the wholesale food sector."

Loai Mukamis, Chief Executive officer of Kuwait International Bank stated:
"KIB has always been eager to adopt lucrative BOT projects, given that Al
Wafir Market demonstrates a remarkable representation in terms of execution of
such projects." Mukamis added that "One of our primary objectives at KIB is to
attract different businesses across the industry to achieve our strategic
decision to diversify our financing portfolio."

Bassel Attieh, Head of Investments and Executive Vice President of IFA, added:
"We wish to thank KIB and Al Wafir for their trust and professionalism
regarding this transaction which stands out as one of the few successful
senior deals for a BOT project in Kuwait. We were able to work around a number
of issues that are inherent to the current Kuwaiti BOT law and which had so
far impeded the financing of similar schemes. We hope this transaction will
help set a benchmark for the funding of future BOT or PPP concessions that are
so critical for the improvement of Kuwait's public infrastructure."

About IFA

International Financial Advisors KSCC (Kuwait) is a leading provider of
financial advisory, securities trading and asset management services. IFA is
the flagship company of an investment conglomerate with significant presence
across hospitality, real estate, asset management and financial services. The
Company operates globally with a special focus on the GCC, South Africa and
Asia. IFA is listed on both the Kuwait Stock Exchange (ticker: IFA KK) and the
Dubai Financial Market (ticker: IFA DB) and its conglomerate has a combined
market capitalization in excess of US$ 2 billion. For more information, visit
http://www.ifakuwait.com .

About Al Wafir

Al Wafir Marketing Services Company KSCC (Kuwait) was established in 1998, for
the purpose of developing the central fruits and vegetables market for
wholesalers under a BOT scheme from the Government of Kuwait. The market is
operated as a monopoly by Al Wafir for a period of 19 years (starting July
2010) after which the infrastructure will be handed back to government
agencies. The company has plans to expand in the region through the
establishment of similar projects and other food-related businesses. Al Wafir
is a member of the world union of wholesale markets.

About KIB

KIB was established in 1973, as a conventional real estate bank that converted
to an Islamic bank in 2007. KIB Operates under the provisions of Islamic
shariah and has assets in excess of US $4.6B. The bank has a rating of A- from
Fitch and offers a full range of banking services through a network of 23
branches spread across the state of Kuwait. KIB is listed on the Kuwait Stock
Exchange and has a market capitalization in excess of US$ 1 billion. For more
information please visit http://www.kib.com.kw

Contact: Nabil A. Zeineddine - T: (+965)-1844-432
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