Kennedy-Wilson, Inc. board of directors faces shareholder investigations

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 17, 2009 -- An investigation on behalf of current investors Kennedy-Wilson, Inc. (Public, OTC:KWIC), who purchased the shares before September 04, 2009, over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price were announced.

If you are currently an investor in shares of Kennedy-Wilson, Inc. (OTC:KWIC), and purchased the shares before September 04, 2009, and / or have additional information relating to the investigation, you should contact the Shareholders Foundation, Inc. at:

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

The investigation by a law firm focus on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of Kennedy-Wilson, Inc. (Public, OTC:KWIC) arising out of their attempt to combine Kennedy-Wilson, Inc. with Prospect Acquisition Corp. Kennedy-Wilson, Inc (KWIC.PK) and Prospect Acquisition Corp. (NYSE Amex: PAX) announced on September 09, 2009, that they have signed a definitive agreement under which they plan to combine and that the transaction has been unanimously approved by the Boards of Directors both companies. According to Kennedy-Wilson, Inc under the terms of the transaction, the business combination between Kennedy Wilson and Prospect will be accomplished through the merger of a newly formed, wholly-owned subsidiary of Prospect with and into Kennedy Wilson. Kennedy-Wilson, Inc announced that Prospect Acquisition Corp will issue the following: “ -- 26.0 million shares of Prospect common stock to the current holders of common stock and preferred stock of Kennedy Wilson; and -- 4.0 million restricted shares of Prospect common stock to Kennedy Wilson senior management as an incentive and retention tool which will vest over a three-year period.”

But according to the investigation by a law firm “the transaction appears to be unfair” to current investors of Kennedy-Wilson, Inc. (Public, OTC:KWIC) because the I Kennedy-Wilson board failed “to conduct an open and fair auction process for Kennedy-Wilson, Inc.” and the “offer appears opportunistically timed to take advantage of the current economic downturn”. Another investigation by a law firm calls the deal even “suspicious because it appears from a review of the Company's financial statements that the inherent value of the Company's stock is greater than $37.35 per share, because the stock traded significantly higher than $37.35 within the last year and also because the Kennedy Wilson Board of Directors holds a majority interest in the Company such that it can force the suspiciously low merger price on the minority shareholders.”

Those who are investors in shares of Kennedy-Wilson, Inc. (OTC:KWIC), and purchased the shares before September 04, 2009, and / or have additional information relating to the investigation, should contact the Shareholders Foundation

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