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Prince Alwaleed Awarded Seychelles Plaque by President James Michel

October 3, 2010

HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) was on a visit to the Republic of Seychelles. The Prince Alwaleed was accompanied by HH Princess Ameerah Altaweel, Vice Chairman of Alwaleed bin Talal Foundation, a delegation from Kingdom Holding and Alwaleed Bin Talal Foundation.

The Prince was warmly welcomed by the President and people of the Republic of Seychelles and met with His Excellency President. The Prince and the President discussed economic, social and humanitarian issues, in addition to Prince Alwaleed`s investments in the country. Furthermore, the two discussed further investment opportunities in the hotel sector in Seychelles.

Also during the visit, Prince Alwaleed was awarded The Republic of the Seychelles Plaque the highest honor granted by the country in recognition of HRH’s invaluable contribution to the socio-economic development of the country for the people of Seychelles.

Furthermore, the Prince and the accompanying delegation toured the Raffles Seychelles Resort and Residences construction site on the northeast tip of Praslin Island, the second largest island in the Seychelles. The Raffles Seychelles Resort and Residences, the proposed development that is still currently under construction, will be a 90- luxury villa resort hotel and 17 private residential villas. Kingdom Holding through Kingdom Hotel Investments (KHI) Chaired by Prince Alwaleed, had acquired the hotel in July 2007 for US$137 million.

Moreover, Kingdom Holding’s other investments in the Seychelles is through the management of Four Seasons Resort Seychelles. The Resort has 62 tree house villas, five suites and 28 Private Residences. The Four Seasons in which Kingdom Holding holds a 47.5% stake and is co-owned by Bill Gates’ Cascade in which the company holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp.