SACC APPROVES THE DRAFTED AGREEMENT WITH NEWREST GROUP

Further to Saudi Airlines Catering Company (SACC) announcement dated 25th September 2013, that a review will be done on the Technical Services Agreement, between SACC and its Strategic Partner Newrest Holding Group S.L. SACC Board of Directors in their meeting held on 16-02-1435 (19th December 2013) approved a draft Technical Services agreement between SACC and Newrest Holding Group S.L (a shareholder in strategic Catering Company). The agreement states that a consulting services and support for technical services shall be provided which will be related to the development of income and profit of the company in general and to each services sector independently. SACC further emphasize the need that this agreement will specifically adopt objectives for their work on financial results, quality, and optimal use of assets and development of human resources. Agreement also takes into consideration to provide SACC technical support for any future projects including the catering on Trains, wherein the Newrest Holding Group S.L is a leading company in Europe to supply services on trains. The agreement is for three years starting January 1st 2014 without a financial impact to the company.