Alujain Corp. — Capital/Financing Update 2006

Feb 28, 2006

Alujain announces signing by its affiliate NATPETof US$411 million Loan Agreement with consortium of 7 local and international banks

2170 · 28/02/2006 14:31:11 · Announcement #8147 · View on Saudi Exchange

Alujain announces signing by its affiliate NATPETof US$411 million Loan Agreement with consortium of 7 local and international banks

Alujain is pleased to announce that National Petrochemical Industrial Company (NATPET) has, today, Tuesday, 28 February 2006, signed in Jeddah an agreement with a consortium of 7 local and international banks consisting of SAMBA Group, Banque Saudi Fransi, National Commercial Bank, Arab Banking Corporation, BNP Paribas, Saudi Hollandi Bank and Abu Dhabi Commercial Bank. Under this agreement the banks will lend the company up to US$411 million for financing the Propylene (Alfasel) and Polypropylene (Teldene) Complex being constructed in Yanbu Industrial City. The loan will be for a term of 11 years.

Alujain holds a beneficial interest of 57% in the Propylene & Polypropylene Complex (including its 37% equity in NATPET).

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.