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Crown Prince Salman Bin Hamad AlKhalifa & Prince Alwaleed Attend Inauguration of Bahrain the Capital of Arab Culture 2012 Under the Patronage of King of Bahrain

February 4, 2012

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) and HRH Prince Salman Bin Hamad AlKhalifa Crown Prince of the Kingdom of Bahrain attended the inauguration of “Bahrain the Capital of Arab Culture 2012” under the patronage of His Majesty King Hamad Bin Isa Al Khalifa, King of Bahrain on Thursday 2nd February 2012 at the National Museum of Bahrain. The inauguration was also attended by HE Sheikha Mai Bint Mohammed Al Khalifa, Minister of Culture in Bahrain, HE Shiekh Khaled Bin Ahmed AlKhalifa, Foreign Minister in Bahrain, government officials and dignitaries. Prince Alwaleed was accompanied by a delegation that included Mr. Fahad Alsukait, CEO- Rotana Group that is chaired by Prince Alwaleed, Mr. Jamal Khashoggi, General Manager of Alarab news channel that is privately owned Prince Alwaleed and Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman.

Manama has been selected as the capital of Arab culture for 2012. This important cultural event is the result of years of continuous effort to preserve the cultural heritage and national knowledge, the preservation of national identity, promote cultural interaction and cultural exchange among Arab countries.

In December 2011, Prince Alwaleed congratulated HM King Hamad, the government and the people of Bahrain for the national team gold medal victory in the 12th football championship of the Arab Games which concluded in Doha, Qatar. To mark the occasion, Prince Alwaleed presented $10,000 as a gift to each team member and stressed the importance of supporting sports and athletes in the GCC countries. Moreover, Prince Alwaleed received HE Mr. Abdulmuhsin Fahad Almarik the Saudi Ambassador to the Kingdom of Bahrain who briefed HRH about this great achievement.

Prince Alwaleed visited the Kingdom of Bahrain early 2011, during the visit HRH met with HM King Hamad. The main purpose of the Prince’s visit was to affirm his confidence in the leadership of HM King Hamad and HRH Crown Prince Salman Bin Hamad Al-Khalifa, wishing Bahrain stability and prosperity. Moreover during the visit, Prince Alwaleed met with Dr. Essam Fakhro, Chairman of Bahrain’s Chamber of Commerce and Industry, and its members. In addition, a press conference was held where HRH addressed the media and the Chamber of Commerce members confirming his confidence in the leadership of the King and Crown Prince. The Prince also referred to the banks and companies that exist in Bahrain, and re-affirmed his investment presence in the country though KHC. Prince Alwaleed also expressed his readiness to further invest in the country. In turn, the head of the chamber and its members welcomed HRH’s visit and thanked him for his support of their local economy.

Prince Alwaleed also referred to his long established warm relationship with the Kingdom of Bahrain in his recent interview with US CNBC on March 11th 2011 and his confidence in the leadership of His Majesty King of Bahrain and HRH Crown Prince of Bahrain wishing Bahrain stability and prosperity.

KHC’s presence in Bahrain is through its indirect investments in the banking sector through Citigroup which has been operating in Al Manama for the past 40 years, and in the hotels sector through Mövenpick hotel in Bahrain that is managed by Mövenpick Hotels and Resorts in which KHC owns a 33.3% stake. In addition, the Four Seasons hotel in Bahrain will be opening soon, managed by Four Seasons Hotels and Resorts in which KHC holds a 47.5% stake and is co-owned by Bill Gates’ Cascade in which the company also holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp, the Company’s Chairman.

Link: http://www.youtube.com/watch?v=JhEKQyFDgek&feature=youtu.be