Announcement of the attachment of Taiba to be notified by the Development Authority of Medina value of compensation for the plot of land No. (5061) and the building of the city hotel Aramas

Further to the foregoing, dated 26/08/2011, corresponding to 27/07/2011, concerning the reporting of the amount of compensation due for the expropriation of the land plot No. 5061 owned by Taiba, as well as the amount of compensation for the expropriation of the Madinah Aramas Hotel, located on the two plots of land (2091 and 2092) west of the Prophet’s Mosque owned by the Arab Company for Tourist Areas (Arak), one of the subsidiary companies of Taiba Holding (439,601,613) four hundred and thirty-nine million and six hundred and six hundred and thirteen riyals, Taiba Holding wishes to clarify to its shareholders that the expected profit from Expropriation of the City Hotel Ramas, which has been announced in the amount of (168,406,845) one hundred and sixty-eight million and four hundred and six thousand eight hundred and forty-five riyals is only for Arak company, where it will be added to the amount of unrealized gains resulting from the sale of Tiba Holding of the two plots of land (2091 and 2092) The Arab Company for Tourist Areas (Arak) registered in the books of the good accounting since 2008 and the amount of (40,271,664) forty million two hundred and seventy-one thousand six hundred and sixty-four rials, bringing the total profit expected after the compensation process amount (208,678,509) two hundred and eight million six hundred and eight And the financial impact of this compensation is expected to be reflected on the financial statements of Arak and Taiba Holding for the first quarter of 2012, God willing.