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Prince Alwaleed Receives Hungarian Minister of State to Discuss Investment Issues

June 20, 2011

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), received at his office in Riyadh HE. Dr. Zsolt Becsey, Minister of State, Ministry of National Economy of the Republic of Hungary and an accompanying business delegation. The delegation included HE Mr. Laszlo Fodor, Hungarian Ambassador to Saudi Arabia, Mr. István Nagy, Advisor to the Prime Minister, Mr. Gyula Plechingeer, CEO, Hungarian Debt Management Agency (ÁKK), Mr. István Krizsák, Foreign Economic Counselor for H.E. Mr. Domján Sándor, Board Member, Ministry of Rural Development, Mr. Zoltán Gál, CEO, Óbuda-Újlak private company and Dr. Kornya László, Chief Executive Officer, Quantum Management Fund. The meeting was also attended by Dr. Nahla Alanbar, Private Executive Assistant to HRH the chairman and Mr. Fahad Alofi Executive Assistant to HRH the chairman.

The meeting began with the Minister thanking Prince Alwaleed for giving him and the delegation the opportunity to meet with him. During the meeting, HRH and the Minister discussed a number of investment issues in the hotel sector, and the economic bi-lateral relations between Saudi Arabia and Hungary. The Minister commended Prince Alwaleed on his efforts in playing a vital role in economic and social development, referring to HRH`s local, regional and international investments. The two also discussed Prince Alwaleed`s investments in Hungary through Citigroup in the banking sector and via Four Seasons Hotels and Resorts in the hotel sector, Four Seasons hotel via the management of Four Seasons Hotels and Resorts in which KHC hold a 47.5% interest.

In 2003, Prince Alwaleed had visited Budapest the capital of Hungary in response to an official invitation from the late President H.E. Ferenc Mádl. During the trip, the Prince and an accompanying delegation from KHC toured the locations of some of KHC’s investments that included the Four Seasons Hotel and Citigroup for a briefing.