No. 02



Gulf Bank Makes Offer For Further Shares In UBK

Gulf Bank, the second largest bank in Kuwait, has made an offerto buy a further 12% of the London-based consortium bank United Bank of Kuwait (UBK). Mr.John Wright, Gulf Bank's General Manager, would not disclose the price which had beenoffered for part of the Kuwait Investment Authority's (KIA) position in UBK but wouldconfirm only that an offer has been made. Nor would Mr. Wright speculate on when the KIA...