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    SAI   GB0000447960

SAUDI ARABIA INVESTMENT FUND LD

(SAI)
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SAUDI ARABIA INV THE SAUDI ARABIA INV FD : Saudi Kingdom Hldg says posts Q4 profit after review

01/24/2009 | 08:38am EDT

RIYADH (Reuters) - Kingdom Holding Co <4280.SE>, owned by Saudi billionaire Prince Alwaleed bin Talal, said on Saturday that it had revised its fourth-quarter earnings to show a small overall profit after initially reporting a net loss close to $8.3 billion.

The revision followed the completion of an examination by Kingdom Holding of its preliminary financial earnings for 2008 and a "re-categorization of some items of its income statement," according to a statement posted on Saudi bourse website.

Based on this "re-categorization," the company said, Kingdom Holding showed an "overall" profit of 276 million riyals ($73.6 million).

The company reported on January 20 a Q4 net loss of 30.97 billion riyals ($8.26 billion) after a dive in the value of its assets, which include a substantial stake in Citigroup <C.N>.

Kingdom's spokeswoman Heba Fatani declined to immediately comment on the official stock market disclosure.

(Reporting by Souhail Karam; Editing by Thomas Atkins)


ę Reuters 2009
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