Further Details on Al Koot and Government Discussions

DOHA, QATAR – Gulf International Services (“GIS” or “the group”; QE: GISS), the largest service group in Qatar, with interests in a broad cross-section of industries, ranging from insurance, re-insurance, fund management, onshore and offshore drilling, accommodation barge, helicopter transportation, and catering services, issued a brief statement to the Qatar Exchange providing further details on the wide-ranging discussions the company's wholly owned subsidiary, Al Koot Insurance and Reinsurance, had been involved in with the Government of the State of Qatar. Hence, no major change is expected in the company structure or in its operation.

The company confirmed that discussions have been put indefinitely on hold.