RIYADH, 1 December 2005 — The Saudi Economic Offset Committee held a meeting with its French counterpart to discuss the completion and the development of several economic projects that have been confirmed between both governments. Among the discussed projects is “Al-Faisal University” project assigned to the French company “Thales”. In addition, there are two petrochemical projects established in Jubail by Thales, the Saudi International Petrochemical Company (SIPCHEM), and Sahara Petrochemicals. The cost of establishing the two petrochemical plants is estimated at SR6.5 billion.