KAMCO Research

Kuwait Stock Exchange Daily Briefing Sunday, October 12, 2008

Sector Weight by Market Cap KAMCO Total Return Weighted (TRW) Market & Sector Indices
Non-Kuwaiti
10.6% Closing DTD MTD 90-Day YTD
KAMCO TRW Indices
Value % Chg % Chg % Chg % Chg
Food Banking
1.9% 32.8% ▲ Market Index 3,696.90 1.41% -5.23% -15.15% -11.78%
▲ Banking 5,137.95 1.69% 0.13% -7.84% -5.51%
Services ▼ Investment 2,730.20 -1.00% -6.96% -20.38% -12.31%
21.0%
▲ Insurance 1,864.53 2.18% -0.39% -1.34% 7.89%
▲ Real Estate 1,324.00 0.06% -12.47% -24.86% -5.55%
Investment ▲ Industrial 2,962.58 1.12% -6.30% -20.21% -18.26%
Industrial 16.3%
9.0% ▲ Services 6,220.05 4.19% -8.88% -15.27% -22.78%
▲ Food 3,990.22 3.56% -3.95% -15.93% -24.13%
Real Estate
7.6% Insurance ▼ Non-Kuwaiti 3,332.50 -0.12% -5.19% -15.87% -0.65%
1.0%

52 Week KAMCO TRW Performance Relative to Volume

Top 10 Stocks in terms of Market Capitalization 4,800 675
4,700
600
4,600
Market Cap. P/E ROE*
4,500 525
(Mln KD) (X) (%) 4,400
KAMCO TRW Index Value

Volume traded (shr. mil.)

4,300 450
1- ZAIN 5,370 16.81 20.9% 4,200 375
2- National Bank of Kuwait 4,920 16.17 18.7% 4,100
3- Kuwait Finance House 4,405 13.94 25.3% 4,000 300

4- Commercial Bank of Kuwait 1,705 13.12 27.3% 3,900 225

5- Al Ahli Bank of Kuwait 1,528 19.04 24.4% 3,800
3,700 150
6- Gulf Bank 1,379 11.88 26.1%
3,600
7- National Industries Group (Holding) 1,240 7.25 17.2% 75
3,500
8- Ahli United Bank 1,239 13.21 15.3%
3,400 0
9- Kuwait Projects Co. (Holding) 1,085 6.35 27.0%
18.10.07
1.11.07
15.11.07
29.11.07
13.12.07
27.12.07
10.1.08
24.1.08
7.2.08
21.2.08
6.3.08
20.3.08
3.4.08
17.4.08
1.5.08
15.5.08
29.5.08
12.6.08
26.6.08
10.7.08
24.7.08
7.8.08
21.8.08
4.9.08
18.9.08
2.10.08
16.10.08
10- Burgan Bank 917 12.13 22.6%

Total 23,789 13.38 21.6% Market Breadth 54 90 56

*: ROE is calculated by dividing net profit for the TTM period ending June-08 by equity as of 30-June-08

Top Movers and Most Active Stocks Market Trading Data and Volatility

Close Change Percent Closing DTD DTD MTD YTD

Today's Top % Gainers Performance
(KD) (KD) Change Value Point % Chg % Chg % Chg
Mabanee Co. 1.080 0.090 9.09%
Arab Real Estate Co. 0.120 0.010 9.09%
ZAIN 1.260 0.100 8.62% KSE Price Index 11,858.10 -47.60 -0.40% -7.64% -5.58%
A'ayan Leasing & Investment Co. 0.320 0.025 8.47% KSE Weighted Index 608.77 10.30 1.72% -6.09% -14.86%
AQAR Real Estate Investment Co. 0.138 0.010 7.81% Market Cap (KD Mil) 50,079 824.60 1.67% -6.13% -13.03%

Close Change Percent Today's DTD Daily Avg. Daily Avg.

Today's Top % Losers Trading Indicators
(KD) (KD) Change Value Chg % Chg YTD 2008 YTD 2007
Automated Systems Co. 0.435 -0.050 -10.31%
Grand Real Estate Projects Co. 0.110 -0.010 -8.33%
First Investment Co. 0.300 -0.025 -7.69% Volume (Million Shares) 606.44 24.96 4.29% 344.22 292.84
Global Investment House 0.630 -0.050 -7.35% Value Traded (KD Million) 347.63 151.18 76.96% 159.13 157.59
Al TAMEER Real Estate Investment Co. 0.128 -0.010 -7.25% No. of Trades 14,310 920.00 6.87% 8,630 8,866

Close Volume Market Volatility YTD MTD MTD

Today's Most Active
(KD) (Shares) Annualized Standard Deviation of Daily Returns 2008 2007 2008
Al-Safwa Group Co. Holding 0.106 84,780,000
ZAIN 1.260 40,047,500
Gulf Finance House 0.710 38,035,000 KAMCO Total Return Weighted Index 15.68% 4.61% 46.00%
Kuwait Finance House 2.140 31,850,000 KSE Price Index 14.61% 3.58% 41.61%
National Bank of Kuwait 1.820 28,527,500 KSE Weighted Index 18.13% 5.25% 54.28%
Source: Investment Research Dept. - KAMCO Source: Investment Research Dept. - KAMCO
 KAMCO Research
Kuwait Stock Exchange Daily Briefing Sunday, October 12, 2008

Company Reuters Trailing Trailing Dividend CP MKT Cap. 52 wks 52 wks YTD-08 Volume
Beta
Ticker P/E P/B Yield (KD) KD Mil. High Low Return # Mil.shr.
═ National Bank of Kuwait NBKK.KW 16.17 3.02 3.75% 1.13 1.820 4919.8 2.380 1.520 1.4% 28.53
▼ Gulf Bank GBKK.KW 11.88 3.10 5.06% 0.99 1.100 1379.2 1.980 1.000 -18.8% 2.66
▲ Commercial Bank of Kuwait CBKK.KW 13.12 3.58 6.02% 1.04 1.340 1704.5 1.740 1.120 -0.2% 4.33
▲ Ahli Bank of Kuwait ABKK.KW 19.04 4.65 2.96% 0.87 1.160 1528.5 1.400 0.940 5.8% 4.21
▼ Bank of Kuwait & Middle East BKME.KW 9.90 2.25 6.70% 0.97 0.640 567.7 0.900 0.570 -9.6% 1.97
▲ Kuwait International Bank KIBK.KW 9.03 2.19 1.93% 1.32 0.425 400.8 0.740 0.325 -28.0% 11.96
▲ Burgan Bank BURG.KW 12.13 2.75 5.62% 1.23 0.800 917.3 1.360 0.730 -5.6% 7.86
▲ Kuwait Finance House KFIN.KW 13.94 3.53 2.53% 1.23 2.140 4405.0 4.000 1.800 -7.7% 31.85
▲ Boubyan Bank BOUK.KW 25.36 3.89 0.00% 1.20 0.500 582.7 0.810 0.405 -23.6% 11.01
▲ Average Banking 14.30 3.25 3.72% Total 16,405.4 -5.5% 104.4
═ Kuwait Investment Co. KINV.KW 5.69 0.85 11.70% 1.25 0.285 157.1 0.520 0.250 -21.0% 1.34
═ Commercial Facilities Co. FACI.KW 6.32 1.45 11.24% 0.82 0.415 222.8 0.700 0.335 -9.8% 0.63
▼ Int'l Financial Advisors Co. IFIN.KW 4.84 0.93 0.00% 1.37 0.295 212.4 1.020 0.280 -42.6% 1.34
▲ National Investment Co. NINV.KW 11.51 2.01 4.02% 1.28 0.750 657.2 0.950 0.610 7.9% 6.10
▲ Kuwait Projects Co.(Holding) KPRO.KW 6.35 1.71 8.35% 1.59 0.940 1085.3 1.340 0.800 25.5% 5.65
▼ Al-Ahlia Holding Co. AINV.KW 3.68 0.76 19.26% 1.17 0.146 120.9 0.280 0.144 -10.2% 0.38
▼ Coast Invest. & Development Co. COAS.KW 9.15 1.19 6.14% 0.88 0.184 115.1 0.490 0.160 -34.7% 0.24
▲ The International Investor Co. TIIK.KW NM 0.97 11.95% 0.96 0.114 56.1 0.330 0.096 -27.3% 1.70
▼ The Securities House Co. SECH.KW 19.74 2.66 2.93% 0.98 0.540 366.2 0.960 0.475 0.3% 0.79
▼ Industrial & Financial Invest. Co. IICK.KW 5.68 0.78 7.80% 1.39 0.126 56.7 0.230 0.110 -19.3% 0.22
▼ Securities Group SGCK.KW 2.13 0.82 15.68% 1.16 0.345 88.1 0.600 0.315 -11.7% 0.59
▼ International Finance Co. IMCK.KW 59.50 0.98 4.55% 0.70 0.248 98.7 0.600 0.230 -57.9% 0.74
▼ Kuwait Financial Centre MARKZ.KW 4.83 0.70 12.08% 1.65 0.168 85.0 0.420 0.168 -29.3% 0.14
▼ Kuwait & M.E. Financial Investment Co. KMEF.KW 6.34 1.71 6.07% 0.53 0.445 106.5 0.620 0.445 -9.7% 0.01
▼ International Investment Group. IIGK.KW 3.27 0.63 5.53% 0.80 0.136 62.1 0.390 0.124 -35.0% 2.96
▲ AREF Investment Group AIGK.KW 5.81 1.08 7.68% 1.04 0.355 376.8 0.760 0.260 0.5% 5.90
▼ The Investment Dar TIDK.KW 4.83 1.55 8.34% 1.19 0.660 629.7 1.320 0.600 -10.3% 2.75
▼ Al-Aman Investment Co. AMAN.KW 10.76 1.81 2.89% 0.52 0.226 108.8 0.340 0.204 7.9% 0.64
▼ First Investment Co. OLAK.KW 7.74 1.41 9.09% 1.27 0.300 193.9 0.590 0.244 -25.1% 6.98
▼ Al-Mal Investment Co. MALK.KW 18.93 1.30 0.00% 1.47 0.220 116.2 0.360 0.216 -22.1% 1.52
▼ Gulf Investment House GIHK.KW 6.83 1.52 9.41% 1.22 0.242 106.5 0.345 0.212 9.1% 0.46
▲ A'ayan Leasing & Investment Co. AAYA.KW 5.79 1.63 4.74% 1.44 0.320 204.4 0.650 0.260 -9.7% 5.49
═ Bayan Investment Co. BAYK.KW 4.55 0.90 3.72% 2.15 0.234 91.9 0.435 0.216 -0.4% 9.06
▼ Global Investment House GLOB.KW 6.19 1.14 5.46% 1.11 0.630 785.2 1.240 0.570 -25.1% 7.13
▼ Osoul Investment Co. OSUL.KW 6.48 0.77 4.52% 1.06 0.097 33.8 0.206 0.092 -37.7% 3.64
▼ Gulfinvest International Co. GVES.KW 4.90 0.78 15.61% 1.21 0.122 60.1 0.255 0.112 -17.0% 0.44
▼ Kuwait Finance & Investment Co. KFSK.KW 14.60 2.31 5.78% 0.82 0.275 175.3 0.480 0.255 1.6% 0.23
▼ Kuwait Inv. Projects Asset Mgt Co.(KAMCO) KAMC.KW 8.99 1.65 6.96% 0.82 0.740 194.8 0.940 0.640 11.6% 0.26
▼ International Leasing & Investment Co. ILIC.KW 5.31 1.72 9.87% 0.91 0.350 109.6 0.680 0.310 -14.0% 0.71
▼ Kuwait Invest Holding Co. KTIN.KW 44.14 1.61 0.00% 0.83 0.335 109.6 0.600 0.335 -10.2% 0.09
▼ National International Holding Co. NIHK.KW 11.38 0.91 0.00% 0.29 0.270 57.4 0.395 0.246 5.9% 0.10
▼ Housing Finance Co. ISKN.KW 7.45 1.87 7.47% 0.74 0.255 75.9 0.355 0.240 -1.3% 9.75
═ Al Madar Finance & Investment Co. MADR.KW 16.63 1.40 3.26% 1.00 0.270 99.2 0.360 0.228 4.2% 0.00
▲ Al-Deera Holding DEER.KW NM 1.43 0.00% 0.28 0.405 212.6 0.770 0.350 -13.0% 0.28
▼ Al Safat Investment Co. SAFT.KW 5.26 1.03 2.66% 1.38 0.295 227.6 1.200 0.275 -17.6% 9.99
═ Burgan Group Holding Co. BGRP.KW 46.10 2.23 0.00% 0.58 0.285 17.4 1.300 0.255 -41.8% 0.41
═ Ekttitab Holding Co. EKTT.KW 3.33 0.91 3.29% 1.31 0.138 71.3 0.310 0.114 -33.0% 14.42
▼ Al Qurain Holding Co. QURK.KW 23.10 1.03 0.00% 1.38 0.108 64.8 0.180 0.050 -17.5% 2.66
▼ Sokouk Holding Co. SHCK.KW 23.14 0.72 0.00% 1.21 0.098 98.0 0.186 0.092 -22.3% 3.44
▼ Al Madina For Finance & Investment Co. MADI.KW 3.80 2.09 7.16% 1.57 0.260 97.4 0.940 0.234 -35.2% 9.05
▼ NOOR Financial Investment Co. NOOR.KW 4.92 0.60 16.50% 1.84 0.202 151.5 0.770 0.202 -46.2% 0.82
▼ Tamdeen Investment Co. TAMI.KW 9.83 0.61 0.00% 0.85 0.330 102.9 0.630 0.285 6.5% 0.13
═ Kuwait Bahrain International Exchange Co. EXCH.KW 9.79 1.87 8.00% 0.31 0.238 11.0 0.375 0.234 1.7% 0.00
═ Damac Kuwaiti Holding Co. DAMK.KW 2.65 1.09 0.00% NA 0.248 44.6 0.350 0.246 -23.7% 0.00
▲ Kuwait Syrian Holding Co. KSHC.KW NM 1.55 0.00% NA 0.170 51.0 0.230 0.142 -11.4% 1.14
▼ Average Investment 6.92 1.28 6.30% Total 8,169.5 -12.3% 120.3
▲ Kuwait Insurance Co. KINS.KW 12.79 1.18 13.46% 0.40 0.520 100.9 0.670 0.450 1.0% 0.01
▲ Gulf Insurance Co. GINS.KW 8.86 1.51 7.98% 0.29 0.790 134.0 1.300 0.670 37.1% 1.37
▲ Ahleiah Insurance Co. AINS.KW 5.06 1.14 8.84% 0.22 0.650 101.6 0.850 0.570 3.1% 0.07
▼ Warba Insurance Co. WINS.KW 9.89 1.06 5.82% 0.37 0.340 56.0 0.520 0.340 2.8% 0.05
═ Kuwait Reinsurance Co. KWRE.KW 4.38 0.84 7.33% 0.07 0.325 34.0 0.375 0.255 0.3% 0.00
═ First Takaful Insurance Co. FTIK.KW 16.21 2.58 4.56% 0.14 0.395 39.5 0.540 0.320 5.3% 0.00
▼ Wethaq Takaful Insurance Co. WETH.KW 25.35 0.79 0.00% NA 0.152 16.8 0.270 0.152 -32.7% 0.02
▲ Average Insurance 8.10 1.23 8.45% Total 482.7 7.9% 1.5
▼ Kuwait Real Estate Co. KREK.KW 4.54 0.60 5.88% 0.99 0.116 105.2 0.265 0.104 -31.6% 4.10
═ United Real Estate Co. UREK.KW 6.45 0.56 0.00% 1.55 0.124 81.3 0.212 0.110 -32.0% 1.38
▲ National Real Estate Co. NREK.KW 8.53 1.25 5.19% 1.95 0.335 272.8 0.700 0.275 -16.7% 6.89
▲ Salhia Real Estate Co. SREK.KW 6.24 1.23 9.86% 0.35 0.425 177.0 0.700 0.355 -1.2% 0.41
═ Pearl of Kuwait Real Estate Co. PEAR.KW 5.94 1.63 3.64% 0.84 0.250 62.9 0.355 0.180 38.5% 0.06
▼ Tamdeen Real Estate Co. TAMK.KW 3.55 0.65 2.39% 1.00 0.380 141.8 0.580 0.350 -0.4% 0.44
▼ International Investment Projects IIPK.KW NM 0.92 0.00% 1.00 0.094 56.3 0.300 0.091 -47.9% 9.88
▼ Ajial Real Estate Entertainment Co. AREC.KW 7.89 0.68 8.61% 0.59 0.330 58.2 0.480 0.315 -7.5% 0.08
▼ Al Massaleh Real Estate Co. MREC.KW 14.42 0.68 0.00% 0.88 0.128 30.2 0.234 0.120 -20.9% 0.08
▲ Arab Real Estate Co. ARAB.KW 16.35 0.79 5.86% 1.48 0.120 58.3 0.275 0.098 -7.9% 9.64
═ Union Real Estate Co. UREC.KW 17.83 0.96 4.59% 0.52 0.192 38.6 0.216 0.182 -0.6% 0.00
▲ AL-Enma'a Real Estate Co.* ENMA.KW 6.79 1.56 3.95% 0.91 0.230 98.7 0.315 0.184 25.4% 2.02
▲ Mabanee Co. MABK.KW 24.94 4.35 0.00% 1.22 1.080 450.8 1.840 0.940 -7.1% 4.05
▲ Injazzat Real Estate Development Co. INJA.KW 5.27 1.16 4.54% 1.30 0.270 93.3 0.590 0.246 -3.5% 4.38
▼ Jeezan Holding Co. JEZK.KW 5.19 0.63 0.00% 1.29 0.108 29.3 0.370 0.094 -46.3% 4.42
▼ Investors Holding Group Co. INVK.KW 7.93 0.73 5.43% 1.61 0.086 92.0 0.164 0.080 -28.3% 2.88
▼ International Resorts Co. IRCK.KW 4.28 0.81 0.00% 1.47 0.152 23.5 0.300 0.144 -25.9% 0.04
▲ The Commercial Real Estate Co. TIJK.KW 5.09 1.07 7.57% 1.09 0.162 259.6 0.305 0.140 -24.9% 15.26
▲ Sanam Real Estate Co. SANK.KW 13.37 1.46 0.00% 0.65 0.295 36.0 0.390 0.255 17.8% 0.13
 KAMCO Research
Kuwait Stock Exchange Daily Briefing Sunday, October 12, 2008

Company Reuters Trailing Trailing Dividend CP MKT Cap. 52 wks 52 wks YTD-08 Volume
Beta
Ticker P/E P/B Yield (KD) KD Mil. High Low Return # Mil.shr.
▲ A'ayan Real Estate Co. AYRE.KW 8.09 0.96 3.36% 1.22 0.188 64.3 0.385 0.160 -21.2% 0.60
▲ Aqar Real Estate Investment Co. AQAR.KW 31.74 1.22 0.00% 1.02 0.138 32.0 0.182 0.108 -3.2% 0.28
▲ Kuwait Real Estate Holding Co. ALAQ.KW 14.28 0.85 5.73% 1.27 0.114 35.9 0.236 0.095 -37.2% 2.34
▼ MAZAYA Holding Co. MAZA.KW 6.52 1.75 5.26% 1.10 0.650 295.1 1.000 0.560 19.1% 1.93
▲ Al Dar National Real Estate Co. ADNC.KW 33.11 0.74 0.00% 1.11 0.102 42.8 0.176 0.095 -29.2% 1.08
▼ AL-Themar International Holding Co. THMR.KW 5.86 0.76 9.95% 0.98 0.120 121.5 0.182 0.116 6.1% 0.06
▼ Grand Real Estate Projects Co. GRND.KW 2.85 0.48 7.26% 1.37 0.110 50.0 0.405 0.104 -48.8% 5.78
═ Tijara Real Estate & Investment Co. TIJA.KW 7.99 0.98 7.14% 0.83 0.140 53.8 0.200 0.120 -7.4% 0.00
▼ Al TAMEER Real Estate Investment Co. AMAR.KW NM 0.85 0.00% 0.60 0.128 30.7 0.186 0.128 -5.8% 0.26
▼ Arkan Al-Kuwait Real Estate Co. ARKK.KW 8.80 1.20 4.50% NA 0.148 32.5 0.214 0.138 -17.6% 0.04
▼ Safat Global Holding SAFA.KW NM 0.59 3.33% NA 0.450 13.5 0.740 0.310 34.8% 0.10
═ Al-Argan International Real Estate Co. ARGK.KW 11.06 2.17 5.81% NA 0.430 114.0 0.680 0.350 24.7% 0.17
═ Abyaar Real Estate Development Co. ABYR.KW 10.82 4.10 0.71% NA 0.510 272.2 0.780 0.330 71.0% 0.00
▼ Munshaat Real Estate Projects Co. MUNS.KW 6.24 0.63 4.26% NA 0.204 65.7 0.750 0.204 -52.0% 0.02
▼ First Dubai For Real Estate Development FIRST.KW 23.66 8.90 0.25% NA 0.400 400.0 1.320 0.315 177.7% 0.01
▲ Average Real Estate 8.43 1.26 3.70% Total 3,789.8 -5.6% 78.8
▲ National Industries Group NIND.KW 7.25 1.24 6.93% 1.78 0.780 1239.8 2.020 0.710 -35.5% 11.11
▼ Kuwait Pipes Industries & Oil services PIPE.KW 59.77 0.59 12.41% 1.60 0.230 51.8 0.680 0.222 -40.8% 0.30
▼ Kuwait Cement Co. KCEM.KW 12.83 2.22 4.58% 1.13 1.200 661.0 1.880 0.860 4.4% 0.02
▼ Refrigeration Industries & Storage Co. REFR.KW 23.80 0.95 5.59% 0.79 0.244 20.8 0.540 0.240 -22.2% 0.24
▲ Gulf Cable & Electrical Ind. Co. CABL.KW 17.00 1.82 1.69% 0.60 2.280 478.6 3.900 1.880 -8.7% 0.31
═ Heavy Eng'g Ind. & Shipbuilding Co. SHIP.KW NM 4.17 1.82% 1.36 0.500 74.3 0.660 0.420 9.6% 0.37
▼ Contracting & Marine Services Co. MARI.KW 44.24 3.11 0.92% 0.75 0.680 122.4 0.810 0.500 25.9% 0.32
▼ Kuwait Portland Cement Co. PCEM.KW NM 0.56 10.70% 0.98 0.510 42.1 1.440 0.450 -25.4% 0.25
═ Shuaiba Industrial Co. PAPE.KW 8.88 1.21 0.00% 0.58 0.310 17.3 0.395 0.218 -3.0% 0.00
▼ Metal & Recycling Co. MRCK.KW 16.01 0.84 0.00% 1.09 0.320 26.4 0.800 0.310 -44.6% 0.36
▲ Kuwait Foundry Co. KFDC.KW 14.31 2.54 2.76% 0.46 1.480 163.0 1.620 1.220 28.7% 0.09
▼ ACICO Industries Co. ACIC.KW 5.56 1.90 8.15% 0.89 0.640 131.0 0.930 0.530 25.8% 2.56
▼ United Industries Co. UICK.KW 9.82 0.48 19.93% 1.47 0.166 41.1 0.415 0.160 -33.2% 0.48
▲ Boubyan Petrochemicals Co.* BPCC.KW 8.08 1.65 7.75% 1.32 0.860 417.2 1.480 0.750 -11.5% 4.96
═ Gulf Glass Manufacturing Co. GGMC.KW 19.28 2.13 3.10% 0.46 0.440 16.9 0.690 0.440 -17.8% 0.00
═ Hilal Cement Co. HCCK.KW 17.52 1.74 2.98% 0.15 0.480 27.7 1.360 0.480 -7.5% 0.00
═ Al Kout for Industrial Projects Co. ALKK.KW 12.59 2.79 6.86% 0.06 0.510 45.0 0.550 0.500 7.7% 0.00
═ Kuwait Packing Materials Co. KPAK.KW 14.42 3.03 4.55% 0.43 0.600 25.4 0.920 0.600 -20.9% 0.00
═ Kuwait Building Materials Co. KBMM.KW 19.99 3.01 2.89% NA 0.520 13.7 0.670 0.255 46.5% 0.00
▲ National Industries Building Materials Co. NIBM.KW 12.22 1.62 4.87% 0.61 0.485 167.6 0.620 0.410 12.8% 0.59
═ Gulf Rocks Co. ROCK.KW 17.33 2.31 0.00% 0.55 0.590 44.6 1.000 0.395 95.2% 0.04
▼ Equipment Holding Co. EQUI.KW 15.73 1.18 0.00% 0.99 0.210 28.6 0.470 0.196 -21.9% 1.34
▲ Mena Holding Co. MENA.KW 11.37 4.21 0.00% 0.97 1.220 122.1 1.960 0.214 367.1% 2.69
═ National Co. for Consumer Industries NCCI.KW 11.22 2.54 13.42% 0.39 0.275 24.8 0.510 0.190 24.8% 0.00
═ Kuwait Gypsum Manufacturing & Trading Co. GYPK.KW 9.97 1.67 8.40% NA 0.250 7.5 0.450 0.244 -35.0% 0.00
▲ Qurain Petrochemical Industries Co. ALQK.KW 19.39 1.73 4.00% NA 0.250 275.0 0.480 0.238 -41.6% 1.55
▼ Salbookh Trading Co. SALB.KW 28.25 2.38 0.00% NA 0.190 38.9 0.425 0.176 -21.6% 0.18
▲ IKARUS Petroleum Industries Co. IKAR.KW 10.19 1.00 0.00% NA 0.244 183.0 0.550 0.230 -48.6% 0.08
▲ Average Industrial 10.83 1.54 4.96% Total 4,507.4 -18.3% 27.8
▲ Kuwait National Cinema Co. KCIN.KW 8.51 1.82 2.92% 0.32 0.950 96.0 1.200 0.740 4.2% 0.01
▼ Kuwait Hotels Co. KHOT.KW 6.81 1.38 0.00% 0.22 0.202 11.1 0.355 0.200 -15.3% 0.16
▲ Agility (PWC Logistics) AGLT.KW 6.01 1.25 8.65% 1.75 0.840 879.3 1.760 0.690 -24.6% 18.38
▼ Market Complex Co. SHOP.KW 2.66 1.02 9.07% 1.16 0.275 67.5 0.540 0.255 -5.8% 2.77
▲ Zain ZAIN.KW 16.81 3.51 3.12% 1.24 1.260 5370.0 4.400 1.060 -30.2% 40.05
▼ Al-Safat Energy Holding Co. SENE.KW 10.94 0.91 0.00% 1.09 0.100 60.3 0.156 0.095 -34.7% 8.52
▼ Educational Holding Group* EDUK.KW 15.05 1.30 0.00% 0.62 0.246 60.3 0.290 0.218 7.0% 0.85
▼ Independent Petroleum Group IPGK.KW 7.91 0.98 8.04% 0.96 0.365 55.6 0.490 0.335 -7.4% 0.32
═ National Cleaning Co. CLEA.KW 19.74 2.23 0.00% 1.24 0.250 25.0 0.465 0.214 -16.7% 0.04
▲ Sultan Center Food Products Co. SCFK.KW 12.68 1.40 5.86% 2.10 0.305 176.5 0.630 0.248 -14.3% 6.15
▼ Arabi Holding Group Co. AGHC.KW NM 0.95 1.75% 1.10 0.170 23.6 0.455 0.170 -55.2% 0.14
▲ Transport & Warehousing Group TTGC.KW 13.83 2.19 23.15% 0.59 0.540 53.1 1.160 0.510 -3.0% 0.03
▲ National Mobile Telecom Co. NMTC.KW 11.27 2.71 2.54% 1.26 1.780 897.2 3.100 1.280 -21.9% 2.37
▲ Kuwait & Gulf Link Transport Co. KGLK.KW 6.04 0.85 12.38% 1.62 0.248 65.5 0.750 0.222 -26.7% 0.36
═ Kuwait Cable Vision Co. KWTV.KW NM 1.04 8.47% 0.81 0.118 6.8 0.224 0.108 -29.0% 0.12
▼ Automated Systems Co. ASCK.KW 6.46 1.52 10.35% 0.36 0.435 17.4 0.780 0.425 -7.8% 0.02
═ National Petroleum Services Co. NAPS.KW 17.20 2.64 2.83% 0.58 0.490 26.9 0.490 0.275 49.9% 0.00
═ Kuwait Co. For Process Plant Const. & Cont. KCPC.KW 6.66 1.09 1.52% 0.36 0.280 13.3 0.465 0.255 -5.9% 0.00
═ Kuwait Slaughter House Co. KSHK.KW 29.05 2.93 2.56% 0.09 0.350 10.9 0.405 0.280 -9.7% 0.00
═ EYAS for Higher & Technical Education Co.* EYAS.KW 17.66 2.19 0.00% 0.10 0.350 38.5 0.350 0.280 15.2% 0.00
▼ Hits Telecom Holding Co. HITS.KW 11.38 2.05 0.00% 0.59 0.290 56.6 0.570 0.224 34.5% 3.06
▲ Al-Safwa Group Co. (Holding) SAFK.KW 3.19 0.71 3.47% 1.05 0.106 137.8 0.275 0.097 -21.2% 84.78
▼ Human Soft Holding Co. HUMN.KW 7.10 2.42 0.00% 0.30 0.310 35.4 0.345 0.164 21.0% 0.02
▲ Privatization Holding Co. KPPC.KW 11.10 0.57 5.95% 1.50 0.128 101.6 0.270 0.106 -31.5% 2.00
═ Nafais Holding Co. NAFA.KW NM 1.67 0.18% 0.04 0.178 110.8 0.198 0.168 63.4% 0.00
▼ National Slaughter Houses Co. NSHK.KW NM 2.55 2.91% NA 0.275 7.9 0.395 0.180 34.4% 0.02
▼ Aref Energy Holding Co. AREF.KW NM 3.57 0.00% 0.35 0.400 300.0 0.445 0.178 409.2% 0.98
═ Safwan Trading & Contracting Co. SAFW.KW 7.51 1.74 9.57% 0.11 0.248 12.4 0.450 0.236 -15.7% 0.00
═ Gulf Petroleum Investment GPIK.KW 6.13 1.81 10.00% 1.28 0.250 58.6 0.550 0.240 -28.9% 0.20
═ Gulf Franchising Co. GFCI.KW 13.16 1.73 3.57% 1.14 0.140 33.1 0.265 0.128 -15.2% 0.56
═ Credit Rating & Collection Co. TAHS.KW 39.00 2.63 0.00% 0.39 0.420 69.3 0.550 0.340 -8.7% 0.00
▼ National Ranges Co. MAYA.KW 6.21 1.13 4.67% 0.84 0.128 128.0 0.206 0.112 8.1% 19.16
▼ Burgan Co. for Drilling, Trading, & Maintenance ABAR.KW 16.15 3.46 1.85% 0.66 0.720 140.4 1.240 0.690 -13.0% 0.25
▼ IFA Hotels & Resorts Co.* IFAH.KW 12.31 6.05 2.65% 0.71 0.810 334.2 1.040 0.750 8.0% 0.15
▲ Combined Group Contracting Co. CGCK.KW 7.57 3.06 6.63% 0.78 1.020 74.1 1.660 0.900 -11.0% 0.19
═ Jeeran Holding Co.* JEER.KW 7.77 1.33 0.00% 0.63 0.248 35.5 0.435 0.228 -9.2% 0.00
▼ Palms Agro Production Co. PAPK.KW 17.69 1.46 0.00% 0.34 0.180 18.4 0.325 0.140 12.5% 0.02
▼ Al Safat TEC Holding Co. SAFH.KW 5.05 0.68 0.00% 0.72 0.091 36.4 0.198 0.089 -47.1% 2.40
 KAMCO Research
Kuwait Stock Exchange Daily Briefing Sunday, October 12, 2008

Company Reuters Trailing Trailing Dividend CP MKT Cap. 52 wks 52 wks YTD-08 Volume
Beta
Ticker P/E P/B Yield (KD) KD Mil. High Low Return # Mil.shr.
▼ Mishref General Trading & Contracting Co. MTCC.KW 38.14 2.08 0.00% 0.41 0.174 34.8 0.900 0.164 -48.2% 0.98
═ United Projects Group UPAC.KW 5.90 0.92 10.23% NA 0.335 27.6 0.470 0.310 -11.7% 0.00
▼ Al-Abraj Holding Co. ABRAJ.KW 10.25 2.84 2.28% NA 0.450 76.5 1.020 0.440 -20.0% 0.04
▲ ALAFCO Aviation Lease & Finance Co.* ALAF.KW 12.66 1.73 2.38% NA 0.200 131.0 0.305 0.166 2.0% 5.18
═ AL-Mowasat Holding Co. MHCK.KW 46.60 1.66 0.00% NA 0.255 24.7 0.325 0.140 46.1% 0.00
▼ Haj & Umrah Services Consortium MASK.KW 12.10 0.44 8.20% NA 0.236 37.8 1.280 0.230 -57.6% 0.48
▲ Oula Fuel Marketing Co. OULA.KW 22.84 3.09 2.53% NA 0.395 118.4 0.500 0.345 -19.0% 4.58
▲ Villa Moda Life Style Co. VILK.KW 11.74 1.07 0.00% NA 0.204 13.8 0.204 0.124 56.9% 0.12
▼ Future Communications Global Co. FUTK.KW 7.34 2.09 9.07% NA 0.315 23.2 0.470 0.295 -10.9% 0.07
▼ Network Holding Co. VEND.KW NM 7.26 0.00% NA 0.320 48.0 0.640 0.275 117.1% 5.20
▼ Hayat Communications Co. HAYK.KW 25.00 3.45 2.27% NA 0.440 26.4 0.480 0.305 8.4% 0.11
▼ Mubarrad Transport Co. MBRD.KW 8.36 0.86 2.38% NA 0.156 26.2 0.560 0.150 -34.6% 0.68
▼ Kuwait Resorts Co. MUNK.KW 4.75 0.95 5.75% NA 0.160 29.9 0.255 0.152 -6.7% 0.02
═ Advanced Technology Co. ATCK.KW 10.39 2.34 5.98% NA 0.460 46.0 0.570 0.455 -6.2% 0.00
═ Yiaco Medical Co. YIAC.KW 7.01 1.05 0.00% NA 0.150 24.8 0.255 0.140 -19.9% 0.68
═ Jazeera Airways Co. JAZK.KW 18.20 2.68 0.00% NA 0.310 62.0 0.600 0.244 -36.1% 0.91
═ Soor Fuel Marketing Co. SOOR.KW 45.75 3.08 0.00% NA 0.375 112.5 0.500 0.350 -16.7% 4.77
▲ Average Services 12.24 2.25 3.59% Total 10,508.7 -22.8% 217.9
═ Livestock Transport & Trading Co. CATT.KW 40.22 0.98 5.17% 0.75 0.232 50.2 0.410 0.214 -16.7% 0.14
▼ Danah Alsafat Foodstuff Co. DANK.KW 3.86 0.68 8.51% 1.35 0.138 39.8 0.395 0.128 -36.6% 2.82
▲ Kuwait United Poultry Co. POUL.KW NM 2.05 0.00% 0.91 0.138 19.9 0.234 0.116 -13.5% 0.04
▲ Kuwait Foods Co. (Americana) FOOD.KW 15.53 2.34 1.71% 0.55 1.900 763.8 4.260 1.600 -23.6% 0.25
═ United Foodstuff Industries Group Co. UFIG.KW 13.62 3.28 2.23% 0.10 0.530 17.7 0.780 0.480 11.6% 0.06
▼ Kout Food Group KOUT.KW 7.47 1.77 5.35% NA 0.510 37.0 1.160 0.510 -40.3% 0.01
▲ Average Food 14.65 1.97 2.31% Total 928.5 -24.1% 3.3
═ Shuaa Capital * SHUA.KW 8.99 0.93 7.83% 0.50 0.415 228.3 0.700 0.390 -8.2% 0.00
═ Sharjah Cement Co. SCEM.KW 5.34 1.38 11.42% 0.73 0.305 153.3 0.520 0.285 -2.5% 0.00
▲ Gulf Cement Co. GCEM.KW 12.46 2.47 3.37% 0.95 0.385 316.1 0.570 0.345 -4.4% 1.05
═ Umm Al-Qaiwain Cement Industries Co. QCEM.KW 3.88 0.71 7.48% 0.70 0.136 44.9 0.275 0.126 -27.1% 0.00
▼ Fujairah Cement Industries Co. FCEM.KW 11.97 2.26 3.12% 1.01 0.435 134.6 0.560 0.330 35.3% 1.40
▼ Ras-Al-Khaimah for White Cement Co. RKWC.KW 5.31 0.62 13.55% 1.20 0.110 51.4 0.198 0.100 -18.1% 0.90
═ Arab Insurance Group ARIG.KW 13.51 0.70 8.05% 0.39 0.255 56.1 0.290 0.218 7.5% 0.00
▼ United Gulf Bank UGBK.KW 11.72 2.09 9.99% 0.81 0.445 362.7 0.670 0.380 5.5% 0.05
▼ Egypt Kuwait Holding Co. EKHK.KW 13.62 2.54 1.20% 0.57 0.520 396.8 1.240 0.500 -12.1% 0.94
═ Bahrain Kuwait Insurance Co. BKIK.KW 8.88 1.34 7.80% 0.02 0.455 25.5 NA NA -0.4% 0.00
▲ Gulf Finance House GFHK.KW 5.01 2.38 9.83% 1.30 0.710 565.4 1.240 0.580 -3.5% 38.04
═ Commercial International Bank CIBK.KW 20.57 3.55 1.10% 0.07 4.560 877.5 4.600 3.740 8.5% 0.00
▲ Al-Khaleej Development Co. TAMR.KW 6.89 2.26 5.02% 0.95 0.510 124.1 0.700 0.390 29.3% 8.66
═ Ahli United Bank AUBK.KW 13.21 2.02 2.34% 0.59 0.275 1239.2 0.415 0.260 0.3% 0.58
═ Bank of Bahrain & Kuwait BBKB.KW 16.56 2.45 3.79% 0.13 0.490 397.3 0.530 0.440 6.5% 0.00
═ Ithmaar Bank ITHMR.KW 8.16 1.01 4.69% NA 0.146 313.9 0.232 0.120 -31.1% 0.82
▼ Average Non Kuwaiti 10.39 1.93 4.51% Total 5,287.1 -0.6% 52.4

▲ Average Market 10.69 1.95 4.33% Total 50,079.1 -11.8% 606.4

Top Movers & Most Active YTD Forex & Treasury

Close Percent
Top % Gainers YTD (KD) Change Currencies 12-Oct-08
Aref Energy Holding Co. 0.400 409.16% KD USD Euro GBP
MENA Holding Co. 1.220 367.15% Kuwaiti Dinar (KD) 1.0000 0.2676 0.3590 0.4561
First Dubai For Real Estate Development 0.400 177.66% U.S. Dollar (USD) 3.7369 1.0000 1.3414 1.7043
Network Holding Co. 0.320 117.10% Japanese Yen 376.20 100.67 135.04 171.57
Gulf Rocks Co. 0.590 95.22% Euro 2.786 0.745 1.000 1.271
Source: KAMCO Treasury Dept./ Reuters
Close Percent
Top % Losers YTD (KD) Change Indicative Deposit Rates 12-Oct-08
International Finance Co. 0.248 -57.90% 1 Mth. 3 Mth. 6 Mth. 1 Year
Haj & Umrah Services Consortium 0.236 -57.56%
Arabi Holding Group Co. 0.170 -55.16% Kuwaiti Dinar (KIBOR) 3.69% 4.06% 4.31% 4.56%
Munshaat Real Estate Projects Co. 0.204 -52.00% Saudi Riyal 3.96% 4.46% 4.80% 5.28%
Grand Real Estate Projects Co. 0.110 -48.76% UAE Dirham 4.25% 4.24% 4.25% 4.24%
US Dollar 4.00% 4.00% 4.00% 4.40%
Close Volume Euro 5.03% 5.40% 5.42% 5.49%
Most Active YTD (KD) (Shares) Pound Sterling 5.62% 5.72% 5.87% 6.48%
Al-Safwa Group Co. Holding 0.106 5,823,840,000
Source: Central Bank of Kuwait for KD / Reuters for other currencies.
National Ranges Co. 0.128 3,440,520,000
Note: Indicative interbanks deposit rates for other currnecies
Ekttitab Holding Co. 0.138 2,982,710,000
Sokouk Holding Co. 0.098 2,238,660,000
Al Qurain Holding Co. 0.108 1,315,340,000
Source: Investment Research Dept. - KAMCO

Notes:
NM: Not Meaningful. NA: Not Available. CP: Current Price, Trailing P/E is calculated on the basis of TTM Earnings ending 30/06/2008 and current market cap. If calculated P/E is negative or greater than 80, it is represented by NM.Trailing P/B is based on 30/06/2008
equity and current market cap. Dividend Yield for individual stocks is based on Full Year 2007 Dividends & current market cap, and Average for sector is a weighted average based on market cap. Beta is calculated on daily share prices returns against KAMCO TRW
index for the companies which have minimum trading history for two years. DTD: daily change. MTD: Beginning of Current Month to Date YTD: Beginning of Year to Date. KD: Kuwaiti Dinars. * Companies that vary in their fiscal years are treated separately to adjust
for recent results announcements. KIBOR: Kuwait Inter-Bank Offered Rate. #YTD-08 return for individual stocks and sectors is calculated based on the KAMCO TRW Index calculation.

This document has been compiled and issued by KIPCO Asset Management Co. KSCC (KAMCO), which has obtained the information from sources it believes to be reliable, but KAMCO makes no guarantee as to either its accuracy or
completeness and has not carried out an independent verification. KAMCO accepts no responsibility or liability for losses or damages incurred as a result of opinions formed and decisions made based on information presented in this
report. This document is not an offer to sell or solicitation to buy any securities. The opinions and estimates expressed herein are those of the issuer.

Investment Research Dept., Email: [email protected], P.O.Box 28873,Safat 13149 Kuwait, Tel: (965) 805885, Fax: (965) 2492395, http://www.kamconline.com
© KIPCO Asset Management Co. KSCC 2008