Transformation of United Electronics Company

Riyadh, February 20, 2010, SPA -- The Minister of Commerce and Industry
Abdullah Ahmed Zainal Ali Redha approved here today the transformation of the
Khobar-based United Electronics Company from a limited liability company into a
closed joint stock company.


Dr. Hassan Fadhel Aqeel, Undersecretary of Ministry of Commerce and Industry
for Internal Trade said that the company's capital is SR 100 million , divided
into (10) million shares with nominal value of 10 Saudi Riyals each share. The
founders subscribed in all the shares of the company.


The duration of the company is 99 years starting from the date of the
Ministerial approval resolution; the duration may be extended by a resolution
of the company’s extraordinary general assembly.


It is noteworthy that the Company shares can not be traded only after obtaining
the approval of Capital Market Authority (CMA).


--SPA