The Board of Directors of United Electronics Company (eXtra) Recommend the Distribution of SAR 60 Million to Investors

02/17/2012

Khobar, Saudi Arabia; February 17, 2012: The board of directors of United Electronics Company (Extra), recommended in their meeting held on 12/02/2012 the distribution of cash dividends of SAR.2.5 per share with total amount SAR.60 million equivalent to 25 per cent of the company’s share capital. The dividends will be distributed to Shareholders registered in eXtra’s books at the end of the trading day of the shareholders general assembly, which will be announced at a later date upon getting the approval from related regulatory authorities.

“We are delighted to share last year’s success with our investors and we look forward to greater success as we continue to grow in the Saudi market as well as on a regional level,” said Abdullah A. Al Fozan, Chairman, United Electronics Company “eXtra”.

Currently, eXtra provides the over 9 million customers it serves annually with more than 12,000 products across its 24 stores – serving almost 90 percent of the population of Saudi Arabia. In addition, eXtra recently introduced its online shopping portal (www.extra.com), a first-of-its-kind fully fledged electronics and home appliance website in the Kingdom.

eXtra was cited by the Saudi Arabian General Investment Authority (SAGIA) as one of the Kingdom’s fastest-growing companies in 2010 and 2011. 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.