Alujain Corp. — Earnings Release 2009

Apr 20, 2009

Alujain announces its Financial Statements for the period ending 31st March 2009 (Three months

2170 · 20/04/2009 16:29:36 · Announcement #15357 · View on Saudi Exchange

Alujain announces its Financial Statements for the period ending 31st March 2009 (Three months

Alujain announces its financial statements for the period ending 31 March 2009:

1. Net loss during the 1st quarter of SR10,829,442 compared to not loss of SR13,073,912 during the same period in 2008 with a decrease of 17% and compared to net loss of SR28,270,463 during the previous quarter with an decrease of 62%.

2. Gross profit during the 1st quarter of SR392,403 compared to SR4,187,868 during the same period in 2008 with a decrease of 91%.

3. Operating loss during the 1st quarter of SR15,205,078 compared to operating loss of SR21,324,058 during the same period in 2008 with a decrease of 29%.

4. Loss per common share during past 3 months of SR0.16 compared to loss of SR0.19 per common share during the same period in 2008.

5. The decrease in the net loss during the 1st quarter 2009 in comparison to the 1st quarter 2008 was mainly due to change of SR 11.7 million in fair value of derivative and decline of SR 1.2 million in Zakat. These favorable variances are partially impacted by decline of SR 3.4 million in gross profit, decrease of SR 5 million in share of losses for minority shareholders, increase by SR 1.4 million in general and administrative expenses due to hiring of new employees in Propylene and Polypropylene complex, and loss on foreign exchange of SR 0.7 million.

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.