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Kingdom Holding Company Notes Fictitious Reports

September 14, 2011

[Riyadh, Saudi Arabia] Kingdom Holding Company, the Riyadh-based investment company controlled by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia, has noted reports circulating this evening by the New York Times indicating that a court in Ibiza, Spain has been asked to reconsider salacious allegations involving an alleged encounter between HRH Prince Alwaleed and a woman in Ibiza in August 2008.

These allegations are completely and utterly false. The alleged encounter simply never happened. Indeed, the events could not have happened. Not only was Prince Alwaleed not in Ibiza at any time in 2008 but has not been in Ibiza for over a decade. Further HRH Prince Alwaleed’s yacht, Kingdom 5KR was not in Ibiza in 2008 nor has Prince Alwaleed ever charted a yacht in Ibiza. The Prince does not vacation in Spanish waters as the story states. He was nowhere near Ibiza when the alleged events took place. As relevant travel records and itinerary confirm, he was in the presence of dozens of people at that time, including his family, and not in Spain.

The first time HRH Prince Alwaleed heard about these false allegations was yesterday, when a representative received a call from the press and today when the false information appeared in the news. Further, neither His Royal Highness nor his lawyers were informed or aware of any complaint filed in Ibiza in 2008 or that the same complaint was dismissed in 2010.

Heba Fatani, Senior Executive Manager for Corporate Communications at Kingdom Holding Company, observed: “There have been many examples of people impersonating Prince Alwaleed over the internet and elsewhere for their own purposes. While one can suppose a young person in Ibiza might be fooled by such a fraud, we would have expected more from the New York Times.”

Contact:
Kingdom Holding Company
Ms. Heba Fatani
Sr. Executive Manager for Corporate Communications
+966-555-27-88-74 (Time Zone: GMT +3)
[email protected]