Yanbu National Petrochemical Company (Yansab) announces the annual financial results ending at 31/12/2009:



1. Realized net loss of (SR 29.2) Million compared to net loss of (SR 25.6) Million for the previous year higher by 14%.

2. The per share loss was (SR 0.052) compared to per share loss of (SR 0.045) for the previous year.

3. Increase in loss in 2009 is due to additional  General and Administrative expenses items. In addition, realizing loss is the norm for such a stage as all the gains or loss during this stage are classified as none operational.

This was stated by Mr. Mutlaq Al-Morished, Chairman of the Board (Yansab), Executive Vice President of  Finance (SABIC), noting that according to accounting standards in this regard, the net sales revenue have been deducted from the cost of the project. Also, he assured that the commercial operations of all YANSAB units will start on March 1, 2010