Alternative Funds

FAQs

The Fund Is Open For New Investors

Fund Objective:

The overall objective of the Fund is to invest in the Wafra Asian Property Fund ("WAPF"), an opportunity fund that intends to make Shariah compliant real estate investments throughout Asia, with a special focus on China and India. WAPF investments are expected to be in a diverse range of development and cash flow-producing properties including office, warehouse, retail and residential properties.

The Fund is a long-term investment vehicle designed to achieve an expected IRR of 14%-16% with an expected annualized net quarterly distribution of 6.5% during the first two years following the offering period and 7-8% thereafter.

Fund Strategy:

The investment strategy of WAPF and, consequently, the Fund will be to balance its investments among a relatively conservative investing approach as followed by the TMW Pramerica Asia II Fund, a medium risk approach adopted by the proposed China investment manager, and a more aggressive approach in India.

Fund Features:

� Focused investments on the most growing economies such as China and India
� All investments are according to Islamic Shariah Principles
� US Dollar denominated
� Quarterly income distribution
� Managed by one of the worlds top real estate managers

Fund Facts

Legal structure:

Closed-ended fund

Offering Period:

May 20, 2007 to June 14, 2007

Minimum Investment:

$250,000

Term:

5 Years and three one year extensions

Target Return:

6.5% the first two years and 7-8% thereafter, with an expected IRR of 14-16%

Currency:

US Dollar

Management Fee:

1.95% per annum

Sales Charge:

2.25%

Manager:

Wafra Capital Partners LP

Sponsor:

National Bank of Kuwait S.A.K

Legal Council:

King & Spalding

Domicile:

Cayman Islands

Risk Level: