RIYADH, 19 May 2006 — Kingdom Holding Company Chairman Prince Alwaleed bin Talal received David Arnold, president of the American University in Cairo, Kenneth Manotti, vice president for Institutional Advancement and Moataz Al-Alfi, co-chairman of the Comprehensive Campaign Committee and Board of Trustees in his office here.

The meeting was also attended by a team from KHC, Ms. Muna Abu Sulayman, executive manager, and Ms. Latifa A. Al-Busseir, manager of the Strategic Studies Department, Ms. Intisar Al-Yamani, media manager, Michael R. Jensen, Corporate Finance Group head and Ms. Manal Alshammary from the Protocol Department.

The delegation members thanked the prince for giving them the opportunity to meet him. They discussed global socio-economic conditions and bilateral topics of interest. Arnold commended Prince Alwaleed for his endeavors and achievements locally, regionally and internationally that make not only the Saudis proud but also the citizens in the Gulf and all Arab countries.

He specifically expressed his admiration for Alwaleed’s great efforts made in support of education. Arnold also expressed his and other university administrators’ interest in initiating a “Prince Alwaleed bin Talal bin Abdulaziz Al-Saud Scholarship Program” that will serve to create a network of scholars who will be future leaders committed to enhancing the life circumstances of citizens in their respective Arab countries.

Prince Alwaleed expressed his readiness to invest fully in any project or program that contributes to increasing the level of education and culture not only limited to the Middle East but also on a global scale.