RED SEA HOUSING POSTPONES LIBYA FACTORY OPENING TO 2014

Reference to the announcement of Red Sea Housing Services Company on 28-11-2012 corresponding to 14-01-1434 in regards to the expected date for opening its factory in Libya, which was expected to take place during the year 2013, the Company announces that it was unable to finalized the maintenance and preparation process for the factory due to the deterioration of the security situation in the region, which resulted in the deferral of numerous anticipated projects in the Oil and Gas sector. The company will announce in 2014 the new date for launching the operations once the security situation stabilizes and business conditions improve in the region.