RED SEA HOUSING EXECUTES SAR 85 LEASE AGREEMENT

Reference to the announcement of Red Sea Housing Services Company on 09-07-2013 corresponding to 01-09-1434 in regards to obtaining the Investor License from the Economic Cities Authority to construct a factory in King Abdullah Economic City, the company announce that it has today, Sunday 08-09-2013 corresponding to 02-11-1434, finalized the execution of the lease agreement for the 193,000 square meters property, which is located in Phase 2 in the Industrial Valley. It has been agreed to lease the property for 20 years, with an estimated investment amount of SAR 85 million. The financial impact for constructing the factory will commence in the Third Quarter of this year. Related material information will be disclosed in due course.