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Feb 08 2006

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Kuwait: KPI sells 37 retail outlets in Germany

KUWAIT CITY: The Chairman and Managing Director of KPC Holdings (Aruba) AEC and President of Kuwait Petroleum International (KPI), Abdullatif A. Al-Houti announced the sale of Kuwait Petroleum Deutschland (KP Deutschland), subsidiary of KPI group of companies. Al-Houti said that KP Deutschland was established in 1992, when KPI decided to enter the German market. The company operates 37 retail service stations under the logo "Markant". The decision to sell KP Deutschland came as a result of implementing the company approved strategy that calls for focusing on markets in which the company has strong marketing base for expansion. Accordingly, it was concluded that the company's limited retail presence in Germany does not meet this objective.

The deal includes the sales of the company that operates the 37 retail outlets and does not include other German marketing businesses such as sale of bitumen and lubricants. This will continue to be handled by Kuwait Petroleum North West Europe. Aviation supply to German airports is also excluded and will continue to be handled through the group centralised company; Kuwait Petroleum International Aviation Company. Finally, IDS (Internatioinal Diesel Service) which are Automat retail sites supplying diesel only to big trucks traveling through Europe will be excluded. Al-Houti told KUNA that the company that acquired KP Deutschland is "Westfalen AG Münster", a large independent company, branded with the same name and owning 220 stations in Germany. It is also one of the leading German liquid gas providers and has also a fast developing production of technical gases.

According to Fritsch-Albert, Chairman of Westfalen AG, this acquisition represents a significant increase in Westfalen's market position and turnover. Fritsch-Albert sees this acquisition as an excellent completion of the Westfalen network, which is mostly concentrated in the north of Nordrhein-Westfalen and the west of Niedersachsen. The sale is subject to final Competition Authority approval. Kuwait Petroleum International, under its distinctive "Q8 sails" logo, refines and markets fuel, lubricants and other petroleum derivatives to a diverse customer base across Europe.

With more than 4,000 retail service stations, as well as direct sales operations delivering fuel and heating oil to domestic and industrial users, Q8 is a well known, respected and trusted supplier and business partner. In addition, specialist business divisions focus on delivering Q8's quality products and market leading services to customer groups with specific needs Q8's International Diesel Service concept a secure fuel card service supported by fully automated technology for national and international road transportation companies is available at more than 700 strategically located sites throughout Europe.

* Q8 Aviation, the international jet fuel marketing arm of KPI, supplies over 200 airlines at more than 40 airports worldwide.

* Q8Oils is a significant name in all sectors of the lubricants market, with five lubricants blending plants, direct sales and marketing activities across Europe and export sales to over 75 countries worldwide. Kuwait Petroleum International's values of providing high quality products, innovative and friendly service and industry leading operating standards mean that Q8 is the clear partner of choice for consumers and businesses worldwide