Spinneys to Open New Hypermarket in Mall of Arabia in 6th October City

CAIRO, Egypt, March 30, 2010 - Spinneys, the premier supermarket retailer in the Middle East
and North Africa, signed 20-year lease agreement with Egyptian Centres, a
company owned by Fawaz Alhokair Group, to open its fourth store in Egypt and
its third in Cairo.

Spinneys will open the 11,000 square meter (sqm) store in Mall
of Arabia, in 6th October City. The store's selling area will be bigger than
a full-size football pitch, offering high-quality products at very
competitive prices and superior customer service.

The agreement between Spinneys and Egyptian Centres plays a
pivotal role in the Spinneys expansion strategy in Egypt. Spinneys already
operates one store in Cairo and another in Hurghada.

"We strongly believe in the Egyptian market, and we are
delighted to have joined Egyptian Centres magnificent project," stated Mr.
Michael Wright. "Spinneys opened in City Stars in Cairo in 2006. The
hypermarket has since become a leading outlet in the country and today
welcomes more than 8 million people a year. Our plan is to expand the number
of our outlets to bring the unique Spinneys combination of fantastic ranges,
prices and promotions, together with our renowned service, quality and
hygiene, to consumers across the country".

Mall of Arabia is located in Juhayna Square, 6th October City
with a gross leasable area of 180,000 sqm and a total built up area of
267,000 sqm, it is expected to attract +400,000 visitors weekly. It has a
unique design that combines contemporary and classic architecture, and is set
to attract the region's most renowned retailers. With more than 9,000 free
car parking space, cinema complex, family entertainment zone and the largest
open air casual dining and coffee shops activities. Mall of the Arabia is
strategically planned to be Egypt's premier shopping destination for
Egyptians and tourists visiting Cairo.

The signing ceremony with Egyptian Centres took place at the
Four Seasons Hotel in Cairo on the 24th of February between Michael Wright,
Spinneys Group CEO, and Eng. Salman A. Alhokair, President of the Real Estate
branch of Fawaz Alhokair Group. Also present were: Mr. Shady Abou Saad,
General Manager of Spinneys Egypt, Mr. Mohamed Nasser El Mallah, General
Manager of Egyptian Centres and Mr. Karim El Gendy, Eyptian Centres CFO.

Spinneys

Spinneys was founded in 1924 in Alexandria, Egypt, by Arthur
Rawdon Spinney. The brand is renowned for delivering superior service to the
consumers over the past 85 years and is now recognized as being the leading
premium supermarket in the Middle East and North Africa. Spinneys is engaged
in a regional expansion, with stores currently trading under the Spinneys
brand in Lebanon, Egypt and the UAE. Units will also open shortly in Jordan
and Qatar, to be followed by further stores in new markets bringing the
brand's presence to more than ten countries.

Fawaz Alhokair Group

In over 20 years Fawaz Alhokair Group has transformed the
retail landscape of The Kingdom of Saudi Arabia through successfully
pioneering international retail franchising. The Group started with 2
menswear stores in 1989 and has become today a diversified corporation with
core businesses in the retail business, with 11 operational mall and 12
others planned to open in the next 5 years. Fawaz Alhokair Group's strength
lies in not only attracting established global brands to the KSA but also in
creating long-lasting and mutually beneficial relationships based on trust,
expertise and commitment.

Egyptian Centers

Egyptian Centers started its operation in Egypt in 2007 under
the umbrella of Fawaz Al Hokair Group. The company's mission is to become the
biggest owner and operator of shopping malls in Egypt. The first on-going
project for the company is Mall of Arabia 'Cairo' which is planned to open
its gates in summer 2010. On the gates of 6th of October City, in a prime
location stands the biggest mall in Egypt in terms of retail space and number
of brands. The company has other plans to expand in Egypt to reach 1 million
sqm leasable area in the next five years.

    Contact: Nicole Karkour, Group Marketing Manager
    Name of Company: Spinneys
    Phone: +961-70-454140
    Web Site: www.spinneys.com
    E-Mail: nicole.karkour@spinneys.com

Contact: Nicole Karkour, Group Marketing Manager, Name of Company: Spinneys, Phone: +961-70-454140, E-Mail: nicole.karkour at spinneys.com