Alujain Corp. — Capital/Financing Update 2006

Feb 11, 2006

Alujain comments on what has been published recently in the local Newspapers about an agreement reach with Local & International Banks for a commercial financing of NATPET?s Prpoylene & Polypropylene Complex.

2170 · 11/02/2006 09:44:00 · Announcement #8023 · View on Saudi Exchange

Alujain comments on what has been published recently in the local Newspapers about an agreement reach with Local & International Banks for a commercial financing of NATPET?s Prpoylene & Polypropylene Complex.

Alujain to follow up on recent news in some local newspapers about the agreement reached with some banks to provide commercial loan over SR 400 million to finance NATPET?s propylene & polypropylene Complex (Alfasel & Teldene) in Ynabu Industrial City.

Alujain would like to clarify that according to what was announced previously in Tadawul on 1/2/2006. the National Petrochemical Industrial Company (NATPET), where Alujain holds 37% equity, in addition to direct investment in the complex of SR. 360 million in the form of Mudaraba, has signed a term sheet with and received a commitment letter from a consortium of local and international banks under which the banks are going to underwrite the commercial portion of the financing required for the complex in Yanbu Industrial City. The final loan agreement is expected to be finalized and signed shortly. However, it has to be noted that the exact amount of the commercial loan referred to has not been determined yet. The loan amount will depend on the outcome of the discussion under way with government lending agencies who are expected to participate in financing the project. The final result will be announced in the due course.

Alujain would like to assure its shareholders that the company will keep them abreast of all relevant information in a timely fashion.

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.