Saudi Airlines Catering Company announces further to the announcement on 22/12/2013 regarding Technical agreement, The Board of directors have signed and approved the technical service agreement between Saudi Airlines Catering Company and Newrest Holding Group SL This agreement states that Newrest shall provide technical and operation support for the sector of the company's activities specifically through improving the revenues, profitability, quality and recourses including human recourses as well as expand into new activity sectors in the future. This agreement is valid until 31/12/2016 and will be a direct engagement between Saudi Airlines Catering Company and Newrest Group Holding one of the shareholders of Saudi Airlines Catering Company. This replaces the agreement between Saudi Arabian Airlines, Strategic Catering Company and Newrest Group Holding, which has ended 31/12/2013. The fees of the contract is dependant on the achievement of Newrest to the financial and productivity goals of the company in each business sector separately. If Newrest does not achieve these goals, fees will not be paid as stated in the contract. The financial impact is throughout the contract period. Newrest Holding Group S.L is a leading company in Europe to supply services in catering and hospitality services. This agreement will be taken to the Assembly General Meeting for approval. The company also announces after had been listed in Saudi stock market, the shareholders' agreement between Saudi Arabian Airlines, Strategic Catering and partners is no longer needed especially after signing a direct technical agreement between Saudi Airlines Catering and Newrest group. Therefore, the relationship and rights between shareholders is as stated in the company's bylaws and Capital Market Authority regulations.

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