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3Q07 The Fund is Closed for new Investors
 Fund Objective:

The investment objective of the Fund is to invest in the TMW Central European Fund (TMW Fund).  The investment objective of the TMW Fund is to seek current income and capital appreciation from a portfolio of investments in high quality real estate properties in selected countries in Central and Eastern Europe to take advantage of the new dynamics expected in that region during the EU expansion. The following is a summary of the terms of the Fund and the TMW Fund.  Please refer to the Private Placement Memorandum of the Fund for a more complete description of those terms and the risks associated with investing in the Fund.

 
Fund Strategy:
 
The TMW Fund will pursue its objective by investing in a diversified portfolio of first class office properties, existing or substantially pre-leased retail properties, and modern logistics properties with international tenants in Central and Eastern European countries such as, but not limited to, Poland, Czech Republic, Hungary, Slovakia, Romania and Bulgaria.
 
 Investment Features
 
• Well-diversified portfolio of first-class Central and Eastern European real estate investments.
• Euro denominated.
Quarterly income distributions.
Properties managed by one of the largest real estate managers worldwide.
• Relatively low correlation with Western European properties markets.
 Fund Facts
 
Legal Structure: The Watani Central European Real Estate Fund Ltd. is a Cayman Islands company which will act as a closed-ended fund.  The TMW Fund will be a Luxembourg entity. 
Offering Period: February 6 to March 3, 2005 (subject to extension at the discretion of the Fund Distributor).
Offering Price: Euro 10,000 per unit.
Minimum Investment: Euro 500,000 with additional investments in multiples of Euro 10,000.
Liquidity:
 
 
Term:
 
Placement Fee:
The Fund will be closed after the end of the Offering Period.
 
5 years extendable for two 1-year periods.
 
A one-time fee of up to 2.25% upon subscription.
Management Fee: An annual fee of 1.50%.
Fund Manager:
NBK Global Asset Management Company Limited.
Fund Distributor: National Bank of Kuwait S.A.K.
Fund Advisor: TMW Pramerica Immobilien GmbH /Bank Austria.
Auditor: A major international auditing firm will be selected by the Fund.
Reporting: Quarterly performance reports and annual financial statements.
 Fund Investments
 
 
 
 

 
 Risk Level
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