March 10, 2005

Human Resource Development Fund (HRDF), Saudi Entrepreneurship Development Institute (SEDI) and Al Falak, the leading IT and Communications solutions provider in the GCC (Gulf Cooperation Council) region, has announced that it will conduct the "Entrepreneurship Development Training Program for new venture creation" focusing on business start-up strategies for young Saudi entrepreneurs. The programme aims to encourage young nationals to start new businesses in the country's Eastern Province.

"The active participation of a country's youth in the development of its economy is crucial to national prosperity. Saudi Arabia has a very rich talent pool of highly educated and skilled graduates, who can bring fresh ideas and enthusiasm to start-up businesses. All that is required is a focused training on dealing with the operational, financial and market realities of such a venture," explained Ahmed Ali Ashadawi, President and CEO, Al-Falak. "Along with its partners, Al-Falak aims to provide this training, as well as post start-up support, to ensure the growth of important market segment."

According to the agreement signed between HRDF, SEDI and Al Falak, the training programme will help young Saudis to identify business opportunities; develop Business plans; and launch their own Small Enterprises.
The program is based on the United Nations Industrial Development Organization's (UNIDO) scientifically tested tools and methods. The duration of the program is 5 weeks followed by 6 months of consulting to facilitate enterprise launching. The program will provide linkages for licensing, finance, access to technology and other services.

The programme will address Saudi men and women interested in starting their own business. The programme intake will be limited to 30 trainees to ensure quality interaction between participants and trainers. The selection of participants will be through psychological tests and a specialized interview process. The programme will help the participants identify their business idea and will assist them through the preparation of a feasibility report. SEDI has a database of 200 business opportunities in the Kingdom developed through extensive market research. These are business investment opportunities exclusive to the Kingdom.

As a follow-up measure, the participants will be offered consultation by SEDI to start new businesses. According to the agreement, SEDI will organize the training programme, HRDF will subsidize the cost and Al-Falak will provide facilities to conduct the actual training. The programme will be held from March 12 to April 13, 2005 in Al Khobar.

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About Al-Falak Electronic Equipment & Supplies Company
Al-Falak Electronic Equipment & Supplies Company is one of the leading suppliers of network solutions, computer hardware, application software, manpower and IT consultancy services within the Middle East. Since its formation in 1981, the company has provided the information infrastructure to many prestigious organizations, which range from practically every government ministry and agency to universities in Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, Qatar and Oman, as well as domestic and international private companies.

Al Falak's name is now practically synonymous with IT in the region. This 100% Saudi owned company has built upon its platform of existing partnerships with some of the most reputable companies in the IT industry. The majority of their staff is IT professionals, consultants, specialists or technicians. This combination helps to ensure that Al-Falak keeps fully abreast of industry standard platform changes to offer constantly updated systems integration, installation, programming, training and support.

For further information please visit: www.alfalak.com

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© Press Release 2005