Saudi Hollandi Capital appointed by Mawarid Holding Co. to act as Financial Advisor

The signing took place at MEED's Office in Riyadh. The IPO is expected to take place during the fourth quarter of 2009 contingent upon the approval of the Regulatory Authorities.

In this context, SHC's CEO, Mr. Tahir Al-Dabbagh, stated that he is looking forward to more IPOs in the local market driven by the investor readiness to invest in upcoming transactions.

Mr. Al-Dabbagh added in a statement, that the significant oversubscription of Eithad Atheeb Telecommunication Co, the first IPO in 2009, coupled with the successful closing of SHB's Sukuk transaction in December 2008, reflect the stability of the investment environment in KSA. They also show the investors' ability to take market developments in their stride and their eagerness to grasp sound investment opportunities.

MEED operates more than 200 convenience stores across Saudi Arabia under the brand name of 'MEED'. Prior to the IPO, MEED will be restructured to own a majority stake in seven other companies of the Mawarid Group, namely Mawarid Food Company 'MFC', Mawarid Marocaine 'MM', Saudi Agricultural Development Company 'SADCO', Saudi Poultry Company 'SPC', Carton Products Company 'CPC', Sahba Factory for Liquid Eggs Company 'SLECO' and Gulf Organic Fertilizer Company 'GUFCO'.

MFC holds the franchisee license for operating the 'Pizza Hut' brand of casual dining restaurants all over Saudi Arabia (except in Jeddah) and currently operates more than 100 outlets across the Kingdom. Mawarid Marocaine is the licensed franchisee of the 'Pizza Hut' brand of restaurants in Morocco and currently operates 18 'Pizza Hut' restaurants across different cities in Morocco.

SADCO produces and markets table eggs under the brand name of 'SAHBA' which is positioned as premium quality table eggs. SADCO also produces and markets broiler chickens. SPC, CPC, SLECO and GUFCO produce and market a variety of products including Day Old Chicks ('DOC's), egg trays, liquid eggs and organic fertilizers respectively.