SAVOLA SIGNS AN AGREEMENT REGARDING AL MUHAIDIB TRANSACTION

Further to the announcement made by The Savola Group (Savola) through the Saudi Stock Exchange (Tadawul) on 6 April 2013 related to its acquisition of Al-Muhaidib Holding Companys 10.0% shareholding in Savola Foods Company and 18.6% (direct and indirect) shareholding in Azizia Panda United Company, in exchange for issuing 33,980,684 new shares in Savola to Al-Muhaidib Holding Company (Transaction), Savola announces that the two parties signed a binding Sale and Purchase Agreement on Wednesday, 1st May 2013 (the Agreement) as per the same terms previously announced by Savola in its announcement made through Tadawul on 6 April 2013.

This Agreement is subject to a number of conditions, including the approval of the Transaction from all relevant regulatory authorities and the approval of the related capital increase by Savola's shareholders at an Extraordinary General Assembly.

 If the Transaction is not completed by 31 December 2013, the Agreement shall be terminated, unless the parties have mutually agreed in writing before 31 December 2013 to extend the term of the Agreement for further period.

Further announcements concerning any material developments in relation to the Transaction will be made by Savola in due course.