Zamil Air Conditioners' Unitary & Applied Business Unit holds second annual Dealer Conference

Notes and media contacts

About Zamil Air Conditioners
Zamil Air Conditioners (ZAC) was founded in 1974 as one of the first air conditioning business to be established in Saudi Arabia and today is a leading international manufacturer of air conditioning systems and is Number 1 in the Middle East. It designs, manufactures, tests, markets and services a comprehensive range of air conditioning products, which range from compact room air conditioners and mini splits to large scale central air conditioners, chillers and air handling units for highly specialised commercial and industrial applications. These are marketed under various brand names - Classic, Cooline, Cool Care, Clima Tech, Kessler Tech and Geoclima - depending on specific markets.

ZAC is also involved in the production of branded air conditioners for several leading international manufacturers under an Original Equipment Manufacturer (OEM) agreement. It operates a joint venture between Zamil Industrial Investment Company (ZIIC) and General Electric, called Middle East Air Conditioners Ltd. (MEAC). As a result of excellent production facilities at ZAC, a range of GE-branded air conditioning consumer products are produced for Saudi Arabia and other Gulf countries. ZAC has been vigorously moving into newer markets, seeking strategic alliances and investing heavily in R&D.

About Zamil Industrial Investment Company
Zamil Industrial Investment Company (ZIIC) was founded in 1998. It is headquartered in Dammam, Kingdom of Saudi Arabia, and employs 5,000 people in 50 countries. As an international manufacturing and fabrication group, it provides leading air conditioning, pre-engineered steel buildings, structural steel products, transmission towers, open web joists and decks, and architectural glass processing solutions to meet the requirements of the global construction industry through its three sector businesses: Zamil Air Conditioners (www.zamilac.com), Zamil Steel Industries (www.zamilsteel.com) and Zamil Glass Industries (www.zamilglass.com).

ZIIC exports to more than 75 markets and derives 50% of revenues from outside Saudi Arabia. For the year ended 31 December 2003, ZIIC posted turnover of SAR 1.55 billion (US$ 414.2m), a growth of 11% over 2002. Post Zakat earnings per share also grew by 11% to SAR 8.39 ($2.24), up from SAR 7.56 ($2.02) during the same period in 2002. ZIIC's shares have been actively traded on the Saudi Equity Market since early 2002. More information can be found at www.ziic.com.

For more information on this press release, contact Said Al-Daajani, Zamil Industrial Investment Company, Corporate Communications, Tel: (966) 3 8471840, Fax: (966) 3 8472574, or e-mail: saidaldaajani@ziic.com

Issued on behalf of Zamil Industrial Investment Company by Hill & Knowlton. For more information contact Rana Habib on Tel: +973 17 533532, Fax: +973 17 533370