"Saudi Tabreed" Alliance Win a District Cooling Contract Providing King Abdullah Financial District in Riyadh Having a Capacity of 100 Thousand Tons of Cooling

RIYADH, Saudi Arabia, August 17, 2010 - A consortium of "Saudi Tabreed" and the "SNC Lavalin-Canada" signed a
contract with " Rayadah investment company" (RIC) , the developer of King
Abdullah Financial District in Riyadh, a contract to design and build a
district cooling services for the air-conditioning systems of the office
towers at the King Abdullah Financial District including the operation and
maintenance of the system for a period of ten years.

The total capacity of the project (100) thousand tons of refrigeration,
and is the largest of its kind in the Kingdom. The project will be
implemented in two phases the capacity of each stage is Fifty thousand tons
of refrigeration, and the first phase will be commissioned in the first
quarter in 2011, the second phase will be commissioned in the first quarter
in 2012.

GCC countries witnessed over the past decade a significant expansion in
the field of district cooling services for air conditioning of offices and
residential towers as this technique provide gains from economic,
environmental, performance applications of this technology resulted from the
substantial saving in power consumption (up to about 40%) in comparison with
the conventional air-conditioning systems also this technique use
refrigerants that are consistent with the environmental standards imposed by
the United Nations (Kyoto and Montreal) protocols reducing the emissions of
carbon dioxide to preserve the ozone layer surrounding the atmosphere, in
addition this technique uses treated sewage water to be in line with the
standards of green buildings imposed by the U.S. Green Building Council
(LEED).

District Cooling in brief is to produce a low temperature water from
central station of industrial chillers of large capacity and distributed
through a network of pre-insulated pipes and connected to each building via
heat exchangers to reduce the temperature of the water used for
air-conditioning in the building and retrieved the high temperature water to
the central station to re-cooled and then pumped back to the network.

"Saudi Tabreed" is a closed joint stock company owned mainly by "ACWA
Holdings" which specializes in the development of infrastructure in many
areas, and National Central Cooling UAE which is one of the largest companies
specialized in the development and operation of district cooling schemes in
the world, Tabreed owns 44 station with capacity of more than 449 thousand
installed tons of refrigeration and is found in a number of the GCC states.

Saudi Tabreed recently signed a similar contract to develop the cooling
system for the "Saudi Aramco" company to serve the company premises in
Dhahran having cooling capacity of 32000 tons, and the company is currently
working to develop similar projects in Medina, Jeddah and Makkah.

HE Mr. Mohammed bin Abdullah Abu Nayyan, Chairman of the Board of
Directors of Saudi Tabreed announces that "The company is proud to
participate in the infrastructure works for King Abdullah Financial District,
which is one of the most important and strategic projects in the Kingdom
which includes all the important financial and economic institutions. And
also reflects the awareness of the Rayada Investment Company officials for
the importance of environmental and economic impacts of such modern
technology resulted from the reduction in power consumption needed to run
air-conditioning systems, which normally consumes an average of 70% of the
electricity for the buildings.

For more information please contact: Mr. Abdusalam +9-66388-72744

For more information please contact: Mr. Abdusalam +9-66388-72744