JEDDAH, 17 September 2005 — The Saudi stock market recorded hefty 4.80 percent increase last week. After opening at 14,272.97 points on Saturday, the Tadawul All Share Index (TASI) closed on Thursday at 14,958.10, higher by 685.13 points for the week. Due to rising oil prices and expected third quarter results, the index is likely to break the 15,000 barrier this week.

According to the Tadawul information, value of the 77 companies traded crossed SR110 billion last week as on Thursday alone the turnover reached SR11.55 billion. Arabian Industrial Development Co. (NAMA) shares jumped by 26.43 percent WTD (week to date) to close at SR354. The shares soared 239.39 percent YTD (year to date).

The shares of Al-Baha Investment and Development Co. posted an increase of 23.03 percent at SR223 for the week, followed by Qassim Agriculture by 21.39 percent at SR222.75, Food Products Co. by 19.40 percent at SR209.25 and Saudi Advanced Industries Co. by 18.31 percent at SR754.25.

Shares of the petrochemical giant Saudi Basic Industries Corp. (SABIC) increased by 8.11 percent in a week to close on Thursday at SR1,663 after the news that Standard & Poor’s and Fitch Ratings have assigned their corporate credit ratings to SABIC, highlighting SABIC’s worldwide leading market positions in base and commodity petrochemicals, fertilizers and steel products. Its shares registered 85.81 percent gain YTD.

Sahara Petrochemical shares closed 7.02 percent higher at SR468.75.

Filing & Packing Materials Manufacturing Co. (FIPCO) shares gained 16.22 percent to close on Thursday at SR430. Saudi Pharmaceutical Industries & Medical Appliances Corp. shares were higher by 14.21 percent at SR633.

Etihad Etisalat and Saudi Telecom Co. (STC) shares gained 3.46 percent at SR635.25 and 1.56 percent at SR945.25, respectively.

Saudi Electricity Co. (STC) shares were higher by 2.86 percent at SR144.

On Thursday, the Industrial index gained 817.77 points at 39,979.12. The Banking, telecom and Insurance indices also rose slightly. However, the indices of Cement, Services, Electricity and Agriculture sectors dropped slightly on Thursday.