NIG Prospectus - London Stock Exchange

Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:19 pm – mac5 – 3776 Section 07 : 3776 Section 07NIG undertakes its businesses through ownership of interests in companies which are classifiedas either holdings in: (i) Core Operating Businesses or (ii) Investments.NIG’s Core Operating Businesses are further classified in one of six core industries: (i) buildingmaterials; (ii) specialist engineering; (iii) petrochemicals; (iv) financial services; (v) utilities; and (vi)oil and gas services and are listed in the table below together with NIG’s ownership percentagein each Core Operating Business.Core Industry1111112Core Operating Business111111111111Ownership11111Building Material National Industries Company for Building Materials KSCC 51%Specialist Engineering BI Group plc, which is wholly owned by NIC Holding UK,which is owned by NIG Guernsey Ltd which is owned byNIG Group Bahrain (NIGG), a Bahrain holding companyowned by NIG..................................................................... 100%Petro-chemicals Ikarus Petroleum Industries Company KSCC .................... 72%Financial Services Noor Financial Investment Company KSCC ...................... 51%UtilitiesCombined National Industries Company for EnergyKSCC .................................................................................. 100%Oil & Gas Services Proclad Group LLC.............................................................. 100%Investments are classified as either Strategic or Financial Investments, and are in turn classifiedas either investment in subsidiaries, associated companies or joint ventures. A summary of NIG’sStrategic Investments is presented below.Ownership Effectivethrough1111111NIG ownership1111111Names of companies in which NIG owns interest in andclassifies as Strategic InvestmentsKuwait Cement Company (KCC).............................................. NIG 25.179%Mabanee Company SAK.......................................................... NIG 17%Kuwait Rocks Company .......................................................... NICBM 38%Industrial Bank of Kuwait ........................................................ Global portfolio 4.5%Global Investment House ........................................................ KFC 5%Egyptian Kuwaiti Holding Company ........................................ NIG 5.421%Dana Gas PJSC ...................................................................... NIG 2.326%Jordan Telecommunications Company .................................... Noor &NIG 10%Kuwait National Real Estate Investment and ServicesCompany KSCC .................................................................. NIG 15.533%Kuwait Privatisation Project Company SAKC .......................... NIG 27.693%Al Raya International Real Estate KSCC .................................. NIG & NICBM 23%Marsa Alam KSCC .................................................................. NIG 20%United Stainless Steel KSCC .................................................. NIG 10%Bayan Holding Company KSCC .............................................. NIG 6.182%The following section describes the different companies in which NIG has an interest.CORE OPERATING BUSINESSESBuilding MaterialsOverviewNIG’s building materials manufacturing activities are carried on by NICBM.The principal objective of NICBM is to provide complementary products to meet the demands ofhousing and infrastructure projects in Kuwait. The strategic development of NICBM is guided by afocus on core business activities and a streamlined organisation.71