(PETRO RABIGH) STARTS THE TERMIONATION OF (RAWEC) SERVICES AND CALLS FOR SAR 187.5M COMPENSATION

Rabigh Refining and Petrochemical Company (Petro Rabigh) announces that today, Wednesday, September 18, 2013 , it sent a notice to Rabigh Arabian Water and Electricity Company, Ltd. (RAWEC) expressing the Companys intention to terminate the Water and Energy Conversion Agreement (WECA) signed between the two parties per the terms of the agreement.

 This comes as a result of the two incidents of interruption (blackout) of the power and steam supplies and the rest of the Rabigh Complex facilities from RAWEC dated December 29, 2012 and September 11, 2013. The notice states the necessity to start the process of transferring the ownership of the assets of RAWEC to Petro Rabigh, which will enable Petro Rabigh to manage the power, steam and the rest of RAWECs current facilities, the thing that will reflect positively on the reliability and quality of the service for supplying energy, water, steam and facilities to the Companys Complex.

 Meanwhile, Petro Rabigh will evaluate the financial impact resulting from the termination of the agreement and will announce it later when the evaluation is completed.

In addition, Petro Rabigh sent other notices to RAWEC to demand direct compensation for the damages caused by the two incidents mentioned above, which is estimated at a maximum of SR 187.5 million per the terms of WECA.

Any developments in this regard will be announced later on.