Zamil Industrial announces General Assembly resolutions

The session was held to discuss several agenda items in the presence of members of the Board of Directors, shareholders, a delegate from the Ministry of Commerce and Industry and representatives from the external auditor. The quorum for the meeting was 58%.

Shareholders agreed unanimously to the proposed agenda items and took the following actions: Approved the Board of Directors' report for the year 2008; Approved Zamil Industrial final accounts and the Auditor's Report for the fiscal year ending 31 December 2008; Agreed to hold the Board of Directors free from any liabilities for the fiscal year ending 31 December 2008; Approved the Board's suggestion for the distribution of profits at SAR1.5 for each share (a 15% pay out ratio).

The company will begin distribution of the approved dividends to eligible shareholders on 31 March 2009 by means of a transfer to their accounts by 21 April 2009 through National Commercial Bank.

Zamil Industrial posted net profits of SAR225.1m ($60m) in 2008, an increase of nine% over the same period in 2007. This growth is attributed to an expansion of worldwide sales on the part of the company's sector businesses. Total turnover for the group was SAR4,550m ($1,213m), a growth of 23.6% compared with same period last year. Shareholders' Equity also increased by 15.2% to SAR1028.3m ($274.2m).