Yanbu National Petrochemical Company (Yansab) announces the annual financial results for the period ending at December 31, 2008:-

1. Realized net loss of SR 25.6 Million compared to net loss of SR 30.4 Million last year less by 16%.

2. The per share loss was SR 0.045 compared to SR 0.054 last year.

3. Comparison was done with the twelve months result for 2007 while published figures for 2007 covered the period from February 11, 06 till December 31, 2007

Reduction in losses during the twelve months is due to reduction in readiness for operation expenses as many of its program have been completed and will be used in commissioning and starting up the plants shortly.

Yansab still in the pre operating stage and realizing loss is the norm for such a stage as all the gains or losses during this stage are classified as none operational.

On this occasion, Eng. Mutlaq AL-Morished, Yansab Chairman of the Board and SABIC CFO, stated that focus now is on the pre-commissioning and testing activities of the received units. By the grace of Almighty Allah, all utilities units are in operation and ready to supply plants when the trail production start shortly. He further stated that many of the equipments, systems and instruments have been operated in standalone mode. Also, Catalysts have been loaded into Plants reactors.