SABIC confirms Diamond Sponsorship for Boao Forum in China for the Second Year

Riyadh, February 21, 2010, SPA -- Saudi Basic Industries Corporation (SABIC)
has announced that it has confirmed its diamond sponsorship for the Boao Forum
for Asia (BFA) that is scheduled to take place between April 9th and 11th, 2010
in the scenic seaside town of Boao, Hainan Province, China.


At a sponsors’ appreciation ceremony and press conference held recently in
Beijing, SABIC’s General Manager for Asia Pacific, Ahmed Al-Umar said,
“Three months ago in November, the SINOPEC SABIC Tianjin Petrochemical
Company was inaugurated. This underscores SABIC’s confidence in China and our
Chinese partners. The power of local partnerships, we believe, is a key driver
of exceptional business performance. It is in this spirit of partnership that
we have returned as a diamond sponsor for the Boao Forum for Asia”.


“The Boao Forum for Asia is a well respected and influential platform that
brings together great minds and ideas from the government and business sectors,
as well as the academia across the region and globally. SABIC is delighted to
play a constructive role in this exchange and dialogue. We are confident that
the 2010 Boao Forum for Asia will be a resounding success”, added Al-Umar.

Long Yongtu, Secretary General of the Boao Forum for Asia (BFA), thanked SABIC
for its continued support, and said that the growing list of corporate giants
involved with this year’s event reflects the rising influence globally and
importance of the BFA.


With the theme “Green Recovery: Asia’s Realistic Choice for Sustainable
Growth”, this year’s BFA event covers debate on low-carbon energy, as well
as broader issues such as the transformation of Asian economies, the effect the
financial crisis has had on the global business environment and the potential
for intra-Emerging-Market cooperation”, which will have a strong and lasting
impact right throughout the region.


"The year 2009 marked a fruitful year for SABIC globally, and especially in
China. The SINOPEC SABIC Tianjin Petrochemical Company was inaugurated in
November 2009 and pre-production operations of the new 3.2 million-ton
petrochemical complex, including a million-ton ethylene cracker and eight
additional downstream units, commenced in January 2010," said Samir A.
Al-Abdrabbuh,
Vice President, SABIC’s Corporate Communications in a latest press release
issued by the Corporation.

--SPA