SASCO announces completion of procedures for signing a contract with an international company specialized in the field of automobile maintenance

Reference to Company's announcement on Oct. 24, 2011 regarding extension of the period of Memorandum of Understanding signed with an international company specialized in the field of automobile maintenance.

SASCO is pleased to announce the company has completed the procedures for signing memorandum of association of a limited liability company specializing in automobile maintenance and services with capital of one million U.S. Dollars' for a period of thirty years from the date of registration. SASCO share in the company's capital is 70% and Ultra Tune Australia is 30%. In the meantime the company's registration with the concerned authorities will be completed.

Any further developments will be announce due course