Reference to the announcement of Red Sea Housing Services Company on 27-08-2014 corresponding to 01-11-1435 in regards to the appointment of three Board Members in accordance with Article (17) of the Company By-law, which was amended through the EGM that was convened on 24-04-2014 to increase the number of Board Members from (9) to (12), the Company announces that it has received a letter from the Ministry of Commerce and Industry on 28-08-2014 corresponding to 02-11-1435 advising that the stipulated regulations in regards to the appointment of Board of Directors stated in Articles (66) and (67) of the Corporate Law shall be implemented. Accordingly, the company has decided to apply the stipulated procedures for appointing new Board Members, which include obtaining prior approval from the Ministry of Commerce and Industry on the list of nominees and call for a General Assembly Meeting to fill the newly created seats.Thus, the appointment of the new Board Members will be effective only after the completion of the aforementioned procedures.