KAYAN DECIDES NOT TO ESTABLISH THE UHMWPE

With reference to the announcement made by Saudi Kayan Petrochemical Company (SAUDI KAYAN) on April 25, 2012, the company announces the decision made by its board of directors in its meeting held on November 7, 2013, not to go ahead with the construction of an Ultra high molecular weight polyethylene (UHMWPE) plant.

This is because the results of the initial feasibility studies don't align with the companys development strategy. No remarkable financial impact resulted from this.