RED SEA HOUSING SAYS LIBYA FACTORY WILL OPEN DURING 2012

Reference to the previous announcement by the Company on 22/09/1432 corresponding to 22/08/2011 in regards to the delay in opening the factory in Libya, due to the prevailing conditions, Red Sea Housing Services announces that is now resuming its activities there and expects to have its new factory in Misratah operational before the end of 2012. 
The new manufacturing facility will add 150,000 square meters of capacity to the existing three facilities, which are currently located in Saudi Arabia, United Arab Emirates and Ghana. This will increase total production capacity by 20% at an expected cost of 61 million SAR. 
Further updates will be announced as they develop.