First Holding selects SAP to support growth of business

SAP today announced that First Holding, a major Kuwaiti holding company, will be implementing SAP's flagship enterprise resource planning (ERP) application, SAP ERP, to help streamline the group's various business units and prepare the company for future growth.

Kuwait: Sunday, September 21 - 2008 at 13:18
PRESS RELEASE

Hamad Al Ghanim, General Manager of First Holding and Sergio Macotta, Managing Director of SAP MENA.

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Part of the Marafie Group of companies, First Holding will implement SAP's ERP application to centralize the majority of its services, providing the group with the necessary tools to improve efficiency and increase productivity across each of its diverse business units.

'SAP's ERP solution is a strategic investment that will enable us to consolidate our operations internally, taking us to a new level of visibility and efficiency across each of our industry verticals,'

said Hamad Al Ghanim, General Manager, First Holding.

By adopting SAP's ECC 6.0 solution, First Holding expects to achieve greater consistency among its different divisions, and ultimately increase its profitability by elevating the standard of accuracy and efficiency across all business transactions.

'At First Holding, we believe that the wave of the future is in service-oriented architecture (SOA) and customer-centric services. With the implementation of SAP's ERP solution, we will be well positioned to provide some of the most advanced and reliable concepts on the market,' said Nasser Bazzi, CIO, First Holding.

The large-scale project, which is expected to go live January 2010, will be implemented in phases over a 14 month period in order to actively involve all users and ensure that all benefits of the new system are maximized.

'SAP is dedicated to making every customer a best run business in the sector in which they operate, and we plan to apply our wide-range of expertise across all of First Holding's diverse range of industries,' said Sergio Maccotta, managing director, SAP MENA.

'Given our experience working on integration projects of this magnitude, SAP is particularly qualified to support the Group across each of its distinct business units.'

With roots in the seafaring trade, the Marafie Group was established in 1919 and is one of the oldest and most respect family groups in Kuwait.

The company has transformed over the years into a diversified conglomerate with business interests in industries such as engineering, construction, manufacturing, property, media and education.

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About SAP
SAP is the world's leading provider of business software(*), offering applications and services that enable companies of all sizes and in more than 25 industries to become best-run businesses. With more than 47,800 customers (excludes customers from the acquisition of Business Objects) in over 120 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE, under the symbol 'SAP.'

(*) SAP defines business software as comprising enterprise resource planning and related applications.

About the Marafie Group
With generations of experience in seafaring trade, the Marafies, a name synonymous with integrity honesty, loyalty and prestige progressively streamlined their family business activities. In 1919 Mohammad Rafie Husain Marafie the third generation member of the Marafie family founded Mohammad Rafie Husain Marafie Company which served as the foundation for the present day Marafie Group. His vision and farsightedness had inspired the transforming of earlier trading activities into an organized business now involved in several industry verticals including: engineering, construction, manufacturing, sales and distribution, consumer products, education, media, wholesale distribution, project management, property management, investment, and non-profit.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'project,' 'predict,' 'should' and 'will' and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ('SEC'), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

Posted by Eman Hassan
Sunday, September 21 - 2008 at 13:18 UAE local time (GMT+4)

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