United Electronics Company Handed “Best Global Partner of the Year Award”

11/22/2011

• eXtra increases Princess brand sales with a growth of 100% in 2011 over previous year.

Khobar, Saudi Arabia; November, 2011: Partner and Retailer of the Year 2010 HONG KONG - The announcement of the Princess Global Partner and Retailer of the year 2010 took place during the annual Princess Partners Meeting on October 12th, 2011 at the Marco Polo Hotel in Hong Kong, where Princess announced United Electronics Company (eXtra), the Princess Partner and Retailer in the Kingdom of Saudi Arabia, as the best Partner and Retailer of the year 2010 out of more than 75 partners from different countries Worldwide.

Princess’s team, represented by the Area Director, Mr. Tarek Kassassir, praised United Electronics Company (eXtra) for their continuous dedication in promoting the Princess brand in the Saudi market and managing to keep its products positioning among the high-end brands available as well as endorsing the company’s marketing vision.

Mr. Abdullah AlFozan, chairman of the board of United Electronics said, “It is an honor to be recognized by one of our prestigious partners for dedication to what we do,” adding “This is part of our strategy to be the market leader, and excel in everything we do to reach our goals.”

Worth mentioning that becoming the “Princess Partner of the Year” is based on several criteria, of which and having healthy turnover development of at least three years in a row, promoting the brand in crucial ways, having an active participation in the Princess marketing strategies & events. United Electronics Company eXtra demonstrated excellence on all aspects resulting in sales and growth over the last three years growing 50% in 2010 over 2009, and 100% in 2011 over 2010.

WMF, a German listed company, was founded in 1853 and has grown in the last decade as a provider of cutlery, cookware, tableware, cutters and coffee machines, amongst other products. A subsidiary of WMF, Princess Household Appliances BV, a Dutch firm specializing in small domestic appliances was established in 1994 and is the world's largest supplier of small domestic products in chrome. Princess manufactures small appliances which include food processors, personal care items, toasters and irons among others.

The company currently operates 21 stores across the Kingdom, offering over 12,000 products to the more than 9 million customers it serves annually reaching 90% of the population in Saudi Arabia with plans to open three more stores by the end of this year.

In addition, eXtra recently introduced its online shopping portal (www.extra.com), the first fully fledged electronics and home appliance website of its kind in the Kingdom.

In both 2010 and 2011, eXtra was cited by the Saudi Arabian General Investment Authority (SAGIA) as one of the Kingdom’s fastest-growing companies. In addition, the company was recently named, for the second consecutive year, as one of the top 50 brands in the Kingdom in recognition of its exceptional growth and sustained commercial success. The company was also voted by one of the Kingdom’s leading economic newspapers as offering the “Best Retail Working Environment in the Kingdom.”