Press Releases

01 December 2008

Press Release on the results of SIIL Board of Directors' Meeting held on 1/12/2008

The Board of Directors (BOD) of Salam International Investment Limited (SIIL) held its Ordinary 58th meeting on Monday, 1/12/2008 and passed the following resolutions:

1. Announcement of proposed profits' distribution for the year 2008:

The Board resolved to recommend the General Assembly to approve profits' distribution of 12.5% of paid up capital for the year 2008; as follows: 6.25% cash dividends and 6.25% bonus shares, i.e. 1 share for every 16 shares.

2. Distribution of cash dividends:

The Board resolved to recommend the General Assembly to approve distribution of cash dividends as advance of the profits for year 2008, to shareholders registered as of the date of the General Assembly which approves the distribution of 6.25% cash dividends of paid up capital.
Bonus shares of 6.25% of paid up capital shall be distributed to shareholders registered as of the date of the General Assembly which approves the financial results of year 2008, and the proposed profits' distribution.

It is worth mentioning that the above proposed profits' distribution is just a recommendation and is subject to the Company's General Assembly and Ministry of Business & Trade approvals.
SIIL emphasizes that this should be taken into consideration by both shareholders and interested investors.

3. General Assembly meetings:

The BOD resolved to invite the Ordinary General Assembly to be convened on Sunday 4/1/2009, to approve the distribution of 6.25% cash dividends of paid up capital, as advance of the profits for 2008. In case the quorum is not met, second meeting will be held on Sunday 11/1/2009.

Moreover, the BOD decided to invite the General Assembly to convene, ordinary & extraordinary meetings on Tuesday 3/3/2009, to discuss the yearly agenda, approve distribution of bonus shares and amend Bylaw of the company accordingly. In case the quorum is not met, second meetings will be held on Tuesday 10/3/2009.

4. Board of Directors' Meeting:

The board resolved to convene its next meeting on 4/1/2009, to discuss the agenda that includes the announcement of the opening of candidacy for Board Directorship.

In addition the BOD has initially decided to set up another meeting on 10/2/2009, to announce the financial results for the year 2008, and to recommend the General Assembly to approve the financial statements for the period ended on 31/12/2008.

Dr.Adnan Steitieh
Secretary Board of Director

Note:
This text has been translated from its original Arabic equivalent, which remains the official version.