Zain Group holds Extraordinary General Assembly with 72.27% quorum

Company distributes KD 195 million (USD 685 million) in cash dividends

Kuwait April 17, 2013

Zain Group held its postponed extraordinary general assembly today at its corporate headquarters in Kuwait with a quorum of 72.27% of the total number of shareholders, sufficing the regulatory limit.

The assembly approved company's request to authorize the Board of Directors to issue bonds and Sukuk not exceeding the maximum legally authorized in Kuwaiti Dinars or other currencies, as well as approving the amendment of the company's capital taking into account changes to the employee stock option (ESOP).

Zain also advises that commencing April 15^th, 2013, it started distributing approximately KD 195 million (USD 685 million) in cash dividends through the Kuwait Clearing Company-reflecting 50 fils per share to shareholders registered in the records of the company until the date of the General Assembly - which was approved when the company held its AGM on April 7, 2013.

Zain is continuously updating its database of shareholders, in coordination with the Kuwait Clearing Company with the aim of facilitating all forms of communications with all shareholders.

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© Press Release 2013