UIC becomes KIPCO subsidiary   Kuwait City, 4th July, 2010: KIPCO - the Kuwait Projects Company - today announced that the United Industries Company (UIC) has become a subsidiary company of the KIPCO Group. UIC was previously an affiliate company of the Group. The announcement follows KIPCO's purchase of outstanding UIC shares that were available through the company's recent rights issue. The purchase means KIPCO's earnings from UIC will now be taken on a consolidated basis from the date of obtaining control. KIPCO Group now holds total of 71.76% of UIC share capital. - Ends - Notes to Editors: The KIPCO Group is one of the biggest diversified holding companies in the Middle East and North Africa, with consolidated assets of US$ 18.7 billion. The Group has significant ownership interests in a portfolio of over 60 companies operating across 26 countries. Its main sector focus is financial services, insurance and media. Through the subsidiaries and affiliates of its core companies, KIPCO has interests in the real estate, manufacturing, aviation, education and management advisory sectors. Further information: Robert Hipkins Group Communications Director T: +965 2245 4286 M: +965 6635 6969 rhipkins@kipco.com Saad Al Ali Group Marketing and PR Director T: +965 2244 0853 M:+965 9958 0440 saad.mohammad@kipco.com