SAHARA Petrochemical Company announces preliminary consolidated financial results for the period ended  on: 31/12/2009 (twelve months)
as follows:

1- Net profit for the fourth quarter reaches amount of  52.87 Million Riyals, compared with net loss (7.8) Million Riyals for the same quarter in the past year, compared to net profit (44.26) Million Riyals for the previous quarter, with an increase of 19.5%. 

2- The company did not achieve total profit or loss during the fourth quarter of this year and that for the continuity of the experimental operation situation of Al Waha Petrochemical Company, one of the company affiliates.

3- The loss from the main operations during the fourth quarter reached amounted  of (13.6) Million Riyals compared with (8.5 Million Riyals from the same quarter in the previous year, with an increase of 60%.

4- The net profit for the (twelve month) reached  76.97 Million Riyals, compared to a net loss of (41.14) Million Riyals for the same period in the previous year.

5- The earnings per share for the (twelve month)reached  0.35 Riyals, compared with a loss of (0.22) Riyal for the same period in the previous year, taking into account that the number of outstanding shares has risen compared to past year after the capital increase in this quarter.

6- The company hadn't achieve total profit or loss during the twelve months of this year, and that  for the non-completion of the construction phases regarding  the factory of AL WAHA Petrochemical Company in the first half of this year and then begin in the stage of the experimental operation for Al Waha Petrochemical Company.

7- the loss from the main operations during the twelve months reached amounted of (44.1) Million Riyals  compared with (40.16) Million Riyals for the same period in the previous year, with an increase of 10%.

8- The reason for profit during the fourth quarter of 2009 basically related to the increasing in revenues resulted from sales of the Saudi Ethylene and Polyethylene Company, which Tasnee and SAHARA companies for Olefins 75% percent of its capital whereas LyondellBasel company owned 25% percent as foreign partner, it has started commercial operation on June 01, 2009, and the company explains the continuity in the experimental  stage for AL WAHA Petrochemical Company plant one of the subsidiary and SAHARA Petrochemical Company owns 75% percent of its capital whereas LyondellBasel company owned 25% percent as a foreign partner.

And it's expected to improve future results for the company based on good performance that expected from the company's affiliates and improvement in the demand in domestic and global markets for the company's products

Regards,
Public Relations