Batelco and Kingdom Holding Company Enter into Non-Binding Term Sheet with Zain KSA

Further to previous announcements, Kingdom Holding Company (“KHC“) and Bahrain Telecommunications Company BSC (“Batelco“) (together, the “Consortium“) today announced that on 19^th July 2011 they entered into a non-binding term sheet (the “Term Sheet“) with Mobile Telecommunications Company Saudi Arabia (“Zain KSA”) in respect of the proposed acquisition by the Consortium of all the shares held by Mobile Telecommunications Company KSC (“Zain“) in Zain KSA.
This follows Zain’s acceptance of a non-binding offer from the Consortium to acquire such shares, being 25{e1f18614b95d3cd6e4b3128e1cd15d99b042a60a5a19c19b7a8e07e7495efa10} of the total issued shares of Zain KSA, as previously announced by each of Zain, KHC and Batelco.