Kuwait Stock Exchange (KSE) announces that the board of Heavy Engineering and Ship Building Co. (HEISCO) approved, today, Tuesday, 27/03/2012, financial statements for the FY that ended on 31/12/2011, as follows:

1- Financial results:

Item	FY ended 31/12/11	FY ended 31/12/10
Profit (KWD)	3.625.797	4.837.309
EPS (fils)	22.18	29.59‏
Total current assets	57.040.479	48.728.098‏
Total assets	94.183.271	81.394.203‏
Total current liabilities	56.163.191	45.344.115‏
Total liabilities	62.215.082	51.759.292‏
Total shareholders’ equity	31.968.189	29.634.911‏

Total expenses of dealing with related parties reached KWD 410.536, with no relevant revenue recorded.

2- Proposed dividend:

The board recommended paying cash dividend for FY11 at 10% of par value, or 10 fils per share, to shareholders of record on the general meeting date. This proposal is pending the approval of shareholder meeting and competent authorities.