Fawaz CEO Dr. Abdulmajeed Alhokair receives 'Executive of the Year 2007' in Saudi Public Company Awards

In awarding Dr. Abdulmajeed A Alhokair the 'Executive of the Year 2007' the SPC Awards recognized a Saudi Arabian business professional leading a major publicly-listed company who has achieved and demonstrated outstanding management excellence.

The judges found unanimous agreement in choosing Dr. Alhokair, Managing Director of Fawaz A. Alhokair & Company, as a leader that demonstrates exceptional vision and leadership.

Commenting on the occasion, Dr. Alhokair said, "The Alhokair IPO was indeed a landmark IPO for not only the Group, but also for the Kingdom, being the largest IPO for any fashion retailer in the Kingdom and the wider region, thus far. Post a successful listing our stock has remained a stable and viable entity, clearly indicative of the strength and stability of our organization and its on-going commitment to shareholders. We are honored to receive this award and re-dedicate ourselves to serving the best interests of our shareholders and the people of Saudi Arabia."

The Awards were in recognition of outstanding success, profitability, organization and social responsibility across Saudi Arabian listed companies and were attended by some of the Kingdom's leading professionals and companies, speakers and attendees of the 2nd Saudi IPO Summit, senior government officials and special VIP industry guests.

The judging panel, made up of internationally recognized and respected judges from a variety of industry sectors and disciplines, and tasked with ensuring that the selection process was fair and objective.

"The performance of our company is the outcome of strong financials, application of international best practices in retailing and robust infrastructure development. We strive for excellence on all fronts - financial, operational and management. The governance of our business meets the standards laid down by regulatory bodies in the Kingdom of Saudi Arabia, and we operate with full transparency and compliance," added Dr. Alhokair.

Alhokair Fashion Retail is Saudi Arabia's largest fashion retail operation, employing over 3,700 employees and operating over 40 international franchises, across a growing network of 700 plus stores. Its turnover was of SR1.3bn for the FY 2006/07.