Alujain Offering Oversubscribed

JEDDAH, 30 June 2004 — The offering for Alujain has been oversubscribed by 3.5 times. “This is the first time in the corporate history of the Kingdom that an offering was oversubscribed by existing shareholders leaving no shares to be offered to the public,” said Faisal Al-Sayrafi, president and CEO of Financial Transaction House, lead financial advisor and offering manager. The purpose of the capital increase is to finance three new projects in the petrochemicals sector. Al-Sayrafi confirmed the successful completion of the subscription within 10 days of the announcement of the capital increase.