ALMARAI RAISES ITS INTEREST IN INTERNATIONAL DAIRY & JUICE COMPANY TO 52%

Further to Almarais announcement dated February 28th 2012, related to the strategic partnership review between PepsiCo. and Almarai, Almarai announces that On March 28th 2012, Almarai Company (Almarai) increased its shareholding in International Dairy and Juice (IDJ) from 48% to 52% through an additional equity contribution by USD 22.4 million equivalent to SAR 84.0 million and is financed from a combination of operational cash flows and Islamic banking facilities (Murabaha).

IDJ was created in February 2009 between Almarai and PepsiCo, focusing on new business opportunities in dairy and juice products in the Middle East, Africa and Southeast Asia - excluding the Gulf Cooperation Council (GCC) countries. IDJs main businesses are the dairy and juice activities of the IDJ operating companies in Egypt and Jordan, as well as exporting into the IDJ designated territories.

In accordance with financial reporting standards, this transaction will result in the venture being fully consolidated in Almarais financial statements as opposed to being equity accounted which has been followed to date. The consolidation will be reflected for the first time in Almarais Q1 2012 financial statements.

Through this change, both Almarai and PepsiCo are committed to making IDJ a successful and profitable venture.