Kuwai, March 11, 2009 - State Capital Investment Corporation (SCIC) and the Kuwait Investment Authority (KIA) today signed a Memorandum of Understanding (MOU) to further promote their bilateral cooperation in attracting Kuwait’s investments into Vietnam.

The MOU was signed by Dr. Tran Van Ta, Chief Executive Officer of SCIC, and Mr. Bader M. Al Sa’ad, the Managing Director of KIA, in the witness of the Prime Minister of Vietnam, H.E. Nguyen Tan Dung, and the Prime Minister of the State of Kuwait, H.H. Shiekh Nasser Mohammed Al-Ahmad Al-Sabah. The MOU signing ceremony took place on the occasion of the Prime Minister of Vietnam’s official visit to Kuwait.

Under the MOU, the SCIC and KIA will enter into a partnership to further promote joint investments in such areas as infrastructure projects, property development, privatization of State Own Enterprises in Vietnam (SOEs) and others.

About State Capital Investment Corporation:

SCIC was established in 2005 by the Government of Vietnam to manage and invest state capital in Vietnam’s state-owned enterprises and undertake strategic investments in key industries. SCIC currently manages a portfolio of more than 800 SOEs of different sectors such as financial service, energy, industry, telecommunications, transportation, consumer products, health care, and information technology. For further information about SCIC, please visit www.scic.vn.

About Kuwait Investment Authority:

The KIA was established in 1982 to takeover the responsibility of managing the assets of Kuwait from the Ministry of Finance. Today, the KIA manages two main funds; the General Reserve Fund (GRF) and the Future Generations Fund (FGF). The KIA may also manage any other funds entrusted to it by the Minister of Finance. KIA's mission is “to achieve a long term investment return on the financial reserves entrusted by the State of Kuwait to the Kuwait Investment Authority by providing an alternative to oil reserves, which would enable Kuwait’s future generations to face the uncertainties ahead with greater confidence”. For further information about KIA, please visit www.kia.gov.kw.