Sahara Petrochemicals Company announces the preliminary financial results for the period ended on 30/06/2011 (Six Months) as follows:

1-Net profit for the second quarter of year 2011 reached an amount of 196.3 Million Riyals, compared with100.8 Million Riyals for the same period in the previous year with increase of 94.7 %, and compared with100 Million Riyals for previous quarter, with an increase of 96 %.

2-Gross profit for the second quarter amounted of 161 Million Riyals, compared with no gross profit last period, due to the fact that; Al Waha Petrochemicals Company an affiliate of Sahara Petrochemicals Company was undergoing experimental operations prior to the commercial operation which started on 01 April 2011, and the profits during that period was mainly generated by the Saudi Ethylene and Polyethylene Company which Sahara owns a percentage of 24.41% of its capital.

3-Operating profit for the second quarter 135 Million Riyals, compared with operating losses of 867 Thousand Riyals for the same period in the previous year.

4-Net profit for the first half of 2011 amounted of 309 Million Riyals, compared with 217 Million Riyals for the same period in the previous year representing a 42% increase.

5-Earnings per share for the first half of 2011 reached 1.06 Riyals, compared with 0.74 Riyals for the same period in the previous year representing an increase of 43% for the same period of the last year.

6-Gross profit for the first half of 2011 amounted of 161 Million Riyals, due to the fact that; Al Waha Petrochemicals Company an affiliate of Sahara Petrochemicals Company was undergoing experimental operations prior to the commercial operation which started on 01 April 2011, and the profits during that period was mainly generated by the Saudi Ethylene and Polyethylene Company.

7-Operating profit for the first half of 2011 amounted of 131 Million Riyals, compared with operating losses of 4.51 Million Riyals for the same period in the previous year.

8-The reason for the increment of the financial results during the first 6 months of this year compared to the same period of last year due to the commercial operation of Al Waha Petrochemicals Company an affiliate of Sahara Petrochemicals Company which started 01 April 2011. Prior to that date the profits were mainly generated by the Saudi Ethylene and Polyethylene Company which Sahara owns a percentage of 24.41 of its capital

Regards,
Public Relations Department