JEDDAH, 18 May 2004 — The Savola Group is holding its 27th annual general meeting and 18th extraordinary general meeting at Jeddah Inter.Continental today. During the AGM, stockholders will elect a new board of directors for a three-year term commencing July 1, 2004. The extraordinary meeting will discuss the board of directors’ recommendations to increase the group’s capital by 25 percent, from SR800 million to SR1 billion by distributing four million free shares with an average distribution of one share for every four currently owned shares. Previously, the board approved paying out quarterly dividends of SR3.5 per share, which is a pioneering move among joint stock companies in the Kingdom. The group will commence its share distribution on May 25.