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MAKKAH TIME




SBG PRESS RELEASE

12/1/2018 , 25/04/1439

The Bin Laden Group Company would like to confirm that it remains a private
sector company owned by its shareholders. SBG can also confirm that contracted
work with the government, which remains a large part of the SBG's activities are
ongoing. This includes the projects currently operating in the two holy mosques,
and the rehabilitation project of Zamzam, which began months ago and is expected
to end before Ramadan 1439 H.Based on information available to management, some
of the shareholders may have agreed a settlement that involves transferring some
SBG shares to the goverment of Saudi Arabia against outstanding dues.

SBG sees this as a positive step and is currently restructuring it's governance
and executive management team to meet it's commitment towards all stakeholders.

Restructuring efforts started two years ago with the objective of separating
ownership from management in accordance with best governance standards to
respond to the group growth.

To support that efforts, a supervisory committee was created, which is composed
of five members; three independent members: Dr. Abdulrehman Hamad Al-Harkan, HE
Dr. Khaled Hamza Nahas, Khaled Mohammed Al-Khowaiter; two members from the
shareholders: Yahia Mohammed Binladin and Abdullah Mohammed Binladin. The
committee will restructure the group and empower the new executive management to
lead the projects and overcome the current challenges; bringing the company to
being profitable again.

CSR

Saudi BInladin Group sponsored the following events:

 * Jeddah Economic Forum (international Economy 2010)
 * Chair of Sheikh Mohammed Bin Laden for Research and Studies in Structural
   Rehabilitation
 * Saudi Civil Engineering Society (The Fifth Forum)

 * Information Technology and National Security Conference
 * The Engineering Profession and its Role in Sustaining the Kingdom's
   Development
 * The Fifth Saudi Technical Conference and Exhibition



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