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Letter From King of Bahrain to Prince Alwaleed

January 9, 2012

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received in office in Riyadh HE Sheikh Humoud Bin Abdullah Bin Hamad Al Khalifa, Bahraini Ambassador to Saudi Arabia. The meeting was also attended by Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman.

The meeting began as the Bahraini Ambassador thanked Prince Alwaleed for giving him the opportunity to meet with him, relayed cordial regards and presented HRH with a letter from His Majesty King Hamad Bin Isa Al Khalifa King of Bahrain. During the meeting, the Ambassador and the Prince discussed the warm friendship between their two countries and referred to a number of social and economic issues. The meeting touched upon the latest developments in the GCC, Arab and International countries.

In conclusion, the Ambassador expressed his gratitude to Prince Alwaleed for the recent gesture to Bahrain’s national team victory. In response, Prince Alwaleed reaffirmed the importance of the friendship between the two countries. Furthermore, Prince Alwaleed asked the Ambassador to relay his cordial regards to HM King Hamad.

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.