ILIC spearheaded the unique US$400 million Zam Zam Tower in KSA

Kuwait City, Kuwait - March 11th 2006: The International Leasing and Investment Company (ILIC), the leading leasing, investment and management advisory group based in Kuwait, today announced its partnership with Euromoney for the 24th Annual World Leasing Convention to be held in Dubai between the 14th and 15th of March 2006.

Dr. Khaled Al-Hajri, Chairman and CEO of the ILIC had said that his company was created to spearhead leasing and investment initiatives in Islamic Development Bank member countries. It was therefore natural for the ILIC to sponsor, and for the second consecutive year, the 24th Annual World Leasing Convention.

"ILIC has pioneered many projects around the region and internationally in the leasing and financial investment sectors utilizing a unique accumulation of experience, expertise and financial prowess," said Dr. Al-Hajri. "By upholding Noble Islamic Sharia Law in our financial dealings and utilizing its market power to attract projects and lead innovation in the financial sector, we have been able to successfully fuse international leasing and investment standards with regional requirements for the benefit of investors and shareholders."

Johnny Johnson, Special Advisor for ILIC is set to present his analysis on recent trends in the leasing and investment industries given the economic transition underway in Middle East, and discuss the challenges and possibilities of joint ventures within the sector. Johnson will also lead a pre-conference workshop to be held March 13th on 'Islamic Leasing - Ijarah.'

On the second day, Mohammed Taha, ILIC's legal advisor will present a paper entitled 'Leasing legislation - challenge for industry progress,' that addresses the legislative framework for leasing in the Gulf Cooperation Council (GCC) and the legal challenges that prevent the sound development and growth of the industry.

The event will offer a unique overview of the status of the leasing industry to regional and international professionals and discuss a wide range of issues ranging from the effects of globalization on the leasing industry to the legislative gaps in Gulf Cooperation Council (GCC) countries, comparative studies between emerging and mature markets and financial models, both Islamic and conventional, for real estate, oil and gas and the insurance sectors.

ILIC has been involved in a range of unique projects that include the US$ 400 million (AED 1.5 billion) Zam Zam Tower in Makkah, a unique BOT (build-operate-transfer) cum timeshare project which has become the hot topic in the Middle East and Islamic banking sector. The project not only incorporates value-added financial structures but also beneficiaries which include both the investors and promoters and the global Muslim community.

The International Leasing and Investment Company's portfolio of investment and financial projects includes: United Gulf Steel in the Kingdom of Saudi Arabia, Mazoon Petrogas LLC in Oman, Bahrain Electricity Supply and Transmission Company in Bahrain and the First Finance Company in Qatar. ILIC is also is partnership with Marmarah Investment Company in Turkey and the National Leasing Company in the Sudan.

-Ends-

About International Leasing & Investment Company:
The International Leasing & Investment Company is a Kuwaiti closed shareholding company incorporated under Commercial Companies Law No. 15 of 1960, and the Law No. 12 of 1998. ILIC is registered with the Central Bank of Kuwait (CBK) as an investment company, and is subject to CBK's rules and regulations. ILIC is principally engaged in leasing and investment activities and management advisory services. All activities of ILIC are carried out in compliance with the Noble Islamic Sharia Law.

For more information, please contact:
Abdulrahman Al-Khalaf
Senior Officer
Marketing & Syndication
Tel: +9652469000, Extension 166
FAX: +9652456478
E-mail: alkhalaf@ilic.net
Website: http://www.ilic.net

For media requests, please contact:
Layth Dajani
The CONTENT Factory
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United Arab Emirates
Tel: +97143341880
Tel 2: +97143676534
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© Press Release 2006