Over 10m Bought EEC Shares

JEDDAH, 7 August 2006 — More than 10 million Saudis bought shares of Emaar Economic City (EEC) as the company’s 10-day initial public offering drew a record number of subscribers, the Saudi Capital Market Authority (CMA) announced yesterday.

“EEC drew 1.1 million more subscribers than Yansab,” a CMA statement said. “Shares will be distributed among the subscribers as follows: One member 25 shares, two 51, three 77, four 102, five 128, six 153 and seven 179 shares,” the CMA said.