Prince Alwaleed said: "Kingdom Holding enters the year 2012 with strength and will continue its distribution of dividends."

The AGM and EGM were attended by the KHC board comprising Talal Almaiman, executive director for development and domestic investments and member of the investment committee; Ahmed Halawani, executive director for private equity, international investments and member of the investment committee; Sarmad Zok, executive director of hotel investments and member of the investment committee; Khaled Al-Saheem, Taher Agueel and Rasha Elhoshan. Saleh Al Sagri's proxy was provided to the KHC chairman.

The shareholders approved all the resolution presented at the AGM with the denoted votes as follows:

1. Approval of the board of directors' report for the year ended 31/12/2012 with a 100 percent vote.

2. Approval of the company's financial statements for the year ended 31/12/2012 with a 100 percent vote.

3. Releasing the board of directors for their actions during the period from 01/01/2011 to 31/12/2011 with a 99.9 percent vote.

4. Approval of the Audit Committee's proposal to select external auditors for the year 2012 with a 100 percent vote.

5. Approval of the board's recommendation to purchase Kingdom Oasis that is 3.8 million sq m with a total cost of SR431 million located next to Kingdom Riyadh Land Real Estate Project East of Riyadh and fully owned by Prince Alwaleed with a 99.9 percent vote.

6. Approval of the board of directors for the distribution of quarterly dividends of 2011 with a total of SR550.3 million with a 100 percent vote.

7. Approval to authorize the board of directors to distribute quarterly dividends with a 100 percent vote.

8. Approval of the board of directors' decision on the appointment of Rasha El-Hoshan as a member of the board of directors who was chosen to replace Ammar A. Alkhudairy with a 100 percent vote.

9. Approval for the board of directors for the next meeting from 05/06/2012 for 3 years with a 100 percent vote, with the following members: Prince Alwaleed, Talal Almaiman, Ahmed Halawani, Sarmad Zok, Taher Agueel, Saleh Al Sagri, Khaled Al-Saheem, Shadi Sanbar and Rasha Elhoshan.

The shareholders approved all the resolutions presented at the EGM with the denoted votes as follows:

1. Approval of the amendment of article 8 related to the company's bond with a 100 percent vote.

2. Approval of the issuance of sukuk, or bonds, either in one part or several parts through the issuance of one or a series of versions under the programs that the company will initiate at those times and the amounts and conditions determined by the board of directors without the need to return to the AGM with a 100 percent vote.

3. Authorize the board of directors to take all necessary measures for the issuance of the sukuk or bonds and to obtain the necessary approvals from the concerned authorities, and the delegation of the board of directors to delegate any or all of the powers granted to the board by the above to any person or other people and give them the right to authorize a third party with a 100 percent vote.

4. Approval of the amendment of article 34 related to the company's force voting to correspond with the list of corporate governance issued by the Capital Market Authority (CMA) to amend as follows: "Each shareholder votes for each share represented at the AGM, the votes are collected at the AGM and EGM on the basis of the cumulative vote per share represented in the meeting" with a 100 percent vote.