JEDDAH, 16 April 2006 — Savola Group is to increase its capital from SR1.8 billion to SR3 billion by granting 2-for-3 bonus share issue to its shareholders. Adel Faqeeh, CEO of the group, made this announcement at the Intercontinental Hotel here following the extraordinary general assembly yesterday. He said that the group is planning to float shares of its subsidiaries Herfy and Afia International in the near future. The board is to meet soon to approve the move. The group is restructuring its business from a food giant to a holding company and is examining new investments in various sectors. The company posted yesterday a first quarter net profit of SR135.8 million ($36.2 million), up 28 percent compared to the same period in 2005. Turnover rose 24 percent to SR1.92 billion.