TWG1

completed

City Group Company K.S.C. (“CGC” or the “Company”), formerly named the Transport & Warehousing Group Co KSC (“TWG”), a Kuwait-based listed joint stock company with core operations in urban bus transportation, has recently embarked on a regional expansion program. As part of the first phase of its expansion program CGC agreed to invest JOD15 million (US$21.3 million) into the Comprehensive Multiple Transport Company (CMTC), a Jordan based urban transport operator providing services in the greater Amman area. The capital increase will be used towards financing a comprehensive capital expenditure program of approximately US$40 million to fund the construction of a new, state-of-the-art central operations center with modern maintenance facilities and a major fleet renewal and expansion plan. City Group is also pursuing other investment opportunities in the region and is considering an investment in a public transportation company in another Levant market that would enable such a company to improve and expand its operations.