Alujain Corp. — Earnings Release 2009

Feb 24, 2009

Alujain announces its Financial Statements for the period ending 31st Dec 2008

2170 · 24/02/2009 16:05:15 · Announcement #14726 · View on Saudi Exchange

Alujain announces its Financial Statements for the period ending 31st Dec 2008

Alujain?s consolidated financial statements for the period ending 31 Dec 2008 showed:

1. Net loss of SR65,102,174 compared to SR39,446,239 for the same period in 2007 with an increase of 65%.

2. Loss per common share during the year of SR0.94 compared to SR0.57 during the same period in 2007.

3. Total revenue of SR6,573,404 compared to SR22,560,156 during the same period in 2007 with an decrease of 71%.

4. Operating loss of SR92,782,763 compared to SR47,068,969 during the same period in 2007 with an increase of 97%.

5. The increase of SR25.6 million in net loss during the year was mainly due to SR16 million decline in revenue, SR9.9 million loss on impairment in investments and SR13.6 million increase in loss in fair value of derivatives, against which, the minority shareholders have a share of SR16.8 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.