Further notice from Taiba Holding on the acquisition of Shariah compliant Arab Investment Company (Arak) – a subsidiary of Taiba –

Further to the above announced on 17/08 / 1434H (26/06/2013), Taiba Holding announced that Arak, a subsidiary of Taiba, has acquired long-term Shariah-compliant financing in accordance with the Tawarruq formula. Of Riyad Bank for the purpose of financing the construction of the five-star Al Khobar Arak Hotel in Al-Khobar in the amount of 250,000,000 two hundred and fifty million riyals for a period of ten years including the grace period and guaranteeing the real estate foreclosure of the land title. Arabic For Touristic Areas (ARAK) On the evening of Thursday 26/5 / 1435H corresponding to 27/03/2014 in light of the coordination with Riyad Bank to postpone the financing agreement mentioned at the current stage of investment options for the land of the project being studied and will be reflected in the financial statements for the first quarter Which ended on 31/03/2014 for Taiba Holding and Arak.