The Linde Group acquires a majority interest in Saudi Industrial Gas Co. Ltd.

The acquisition is pending approval from the relevant regulatory authorities.

The Chairman of SIGAS, noted that, "We are delighted to become part of the Linde Group, one of the world's leading gases and engineering companies. The partnership will enhance the Company's strong position in the Saudi market, and facilitate the Company's expansion plans."

Timothy S. Gray, CEO of HSBC Saudi Arabia Limited, which acted as the Sole Financial Advisor to SIGAS, added, "This is a landmark event in the long history of SIGAS, which will significantly enhance its capability to pursue exciting opportunities in the fast-growing industrial gases market."

The Linde Group is a world-leading gases and engineering company with more than 50,000 employees working in around 100 countries worldwide. In the 2007 financial year, it achieved sales of 12.3 billion euro.

Established in 1955 and with a current workforce of approximately 400 employees, SIGAS is one of the leading players in Saudi Arabia's industrial gas market and holds a significant market share in all product categories.

SIGAS manufactures bulk, industrial, medical and specialty gases; supplies refrigerant gases of various grades; and imports and distributes various welding consumables, oxy-fuel equipments, accessories and safety products.