Sahara.. updates about the use of proceeds from the rights issue

Sahara announces to its shareholders the developments of proceeds from the rights issue received on 23/12/2011G. Up to the end of the 1st quarter of 2013, the company has used the following amounts to finance the projects listed in the prospectus as follows:

- ALWAHA Petrochemicals Company: Zero
- SAHARA & Ma`aden Petrochemicals Company-SAMAPCO: SAR 52,330,000
- Saudi Acrylic Polymer Company-SAPCO: SAR 95,110,000
- Saudi Acrylic Monomer Company-SAMCO: Zero
- Neopentyl Glycol-NPG: SAR 110,000
- Butanol Project: SAR 74,840,000
- Utilities and off sites (U&O): SAR 164,670,000
- Administrative expenses related to Sahara Petrochemicals Company for five years: SAR 34,380,000
- Employee Home Ownership Program Financing Costs: 457,000
- Adjustments Requests to support shared services: SAR 3,410,000
- Contingency (General): SAR 10,330,000
- Rights Issue Shares Financing Cost: SAR 31,920,000
- Short Term Bridge Loan repayment: SAR 384,770,000
- Employee Share Incentive Program: Zero

It is worth mentioning that the subscription proceeds amounted to SAR 1,462,650,000 of which SAR 852,327,000 were used as of the end of the 1st Quarter 2013.And the remaining balance of the subscription proceeds is SAR 610,323,000.

No proceeds were used in any other aspect other than mentioned in the prospectus. In case of any significant developments, a relevant announcement will be released.