RIYADH, 6 November 2007 — The Al-Khaleej Training and Education held an initial public offering (IPO) for 30 percent of its capital starting yesterday up to Nov. 12, with Saudi Morgan Stanley as underwriter and consultant and the Saudi Fransi Bank (SFB) as manager.

The first company specialized in education and training to offer its shares for IPO in the Saudi stock market, Al-Khaleej Training and Education offers 2.4 million shares for IPO valued at SR65 per share.

In a press conference over the weekend, Engineer Al-Waleed Al-Dryaan, delegated member of Al-Khaleej Training and Education, said that Al-Khaleej’s offering is viewed as prominent and highly important in the Saudi stock market.

He added that continuous IPOs in the market help in increasing the number of companies listed in the stock market and will give investors the opportunity to invest in the most rapidly growing companies.

The press conference was attended by Dr. Fahd Al-Mubarak from Saudi Morgan and Stanley and Fahd Al- Oufi from the SFB.

Al-Dryaan said “selecting Saudi Stanley and Morgan as IPO consultant and underwriter and SFB as IPO manager has been reached due to their vast experience in the field of IPOs in the Saudi stock market. They offer outstanding and creative financial solutions in capital markets. We expect that the response from investors to Al Khaleej IPO will be huge, taking into consideration that Al-Khaleej is one of leading national companies in the field training and education.”

According to Al-Dryaan, the IPO consultant and manager have taken all the necessary procedures and preparations to conduct the IPO professionally and efficiently, to enable subscribers to subscribe easily and flexibly.

Subscription can be made through the following receiving banks: Saudi Fransi Bank, Rajhi Bank, Arab National Bank, National Commercial Bank, SABB. IPO consultant and manager have taken all the necessary procedures to facilitate IPO process through electronic channels, including ATMs, phone banking services and Internet.

“With more than 11 international franchises in the field of training on IT, English language, administrative and financial training programs, tourism and hospitality, Al-Khaleej Training and Education is viewed as one of the most prominent companies in this sector in the Middle East,” Al-Dryaan said.

He added that the company is also expanding its investments in Egypt, UAE, US and Jordan.

Currently, Al- Khaleej owns 67 training centers in the Kingdom, and is present in other more than 17 locations in the Middle East, in addition to its investments in other 7 affiliates in the Arab countries and the world.