HRH Prince Alwaleed bin Talal bin Abdulaziz AlsaudHRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud

Kingdom Holding Company (KHC)Kingdom Holding Company (KHC)

SambaSamba

Riyad BankRiyad Bank

Banque Saudi FransiBanque Saudi Fransi

Mr. Essa El Essa, Managing Director and Chief Executive Officer of SambaSamba, Mr. Talal Al-Qudaibi, President and Chief Executive Officer of Riyad BankRiyad Bank and Mr. Jean Marion, Managing Director of Banque Saudi FransiBanque Saudi Fransi, together with the banks' senior representatives and the members of KHCKHC's Investment Committee Eng. Talal AlMaiman Executive Director for Development & Domestic Investments, Eng. Ahmed Reda Halawani, Executive Director for Private Equity Mr. P. J Shoucair Executive Director for International Investments and Mr. Shadi Sanbar, KHCKHC's CFO were present at the signing of the agreement at KHCKHC's offices.

Given the strength of KHCKHC's balance sheet, the Company was able to secure this financing arrangement on terms which are extremely favorable and competitive in this current credit market. Although there is no immediate need for the facility, the Company stands ready to evaluate opportunities and investments as they are presented to them.

Prince AlwaleedPrince Alwaleed commented: "We are pleased that this long awaited and much publicized financing agreement has been reached with SambaSamba and Banque Saudi FransiBanque Saudi Fransi and we are particularly pleased with expanding our banking relationship with Riyad BankRiyad Bank. Kingdom Holding CompanyKingdom Holding Company will remain sharply focused on identifying key opportunities to maximize shareholder value."

Mr. Shadi Sanbar, KHCKHC's CFO and a member of its Investment Committee commented: "The financing cost on this favorable borrowing will save the company approximately SR 90 million or the equivalent of SR 30 million annually, and further enhance the contribution to the company's bottom line."

Kingdom Holding CompanyKingdom Holding Company is a publically traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007. KHCKHC is one of the world's most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player in the Arabian Gulf region and internationally. KHCKHC was founded in 1980 where initially the Company focused on construction activities, housing development and educational projects. Today, KHCKHC's portfolio has its main interest in landmark hotel properties and hotel management companies, real estate development, financial services, technology and media.

Landmark hotel properties include the George V in Paris, Des Bergues in Geneva, the newly renovated Fairmont Plaza in New York City and the Savoy (under renovation) in London, in addition to the Fairmont in San Francisco, Four Seasons in Toronto and Raffles in Singapore. Other hotels are owned though its majority-owned Dubai listed subsidiary, Kingdom Hotel Investments.

Hotel Management Companies include the following world-renowned brands: Four Seasons Hotels & Resorts, Fairmont Raffles Hotels (which include Fairmont, Raffles and Swissotel) and Mövenpick Hotels & Resorts.

KHCKHC has two significant real estate developments, one in Jeddah aggregating 5.3 million sqm and the other in North of Riyadh aggregating 16.7 million sqm.

KHCKHC also has stakes in other Saudi publicly traded companies in the various sectors which include banking through SambaSamba, food via Savola, industrial through Tasnee and media and publishing via Saudi Research and Marketing Group. Other KHCKHC domestic investments include retail, healthcare and aviation through the National Air Services Company Limited (NAS).

Moreover, the company's international investment portfolio contains many blue-chip companies including Citigroup, News Corporation, Time Warner, Apple Inc, Walt Disney Co and others. In addition to its public company activities, KHCKHC is also extremely active in the area of private equity in Saudi Arabia and developing markets within the Middle East, Africa and Asia.

-Ends-

© Press Release 2008

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