Bupa Arabia for Cooperative Insurance announces its financial results for the six month period ended 30/06/2011, as detailed below:

1. Net loss for the second quarter in 2011 was SR19,807K compared to a net loss of SR1,663K for the second quarter in 2010, representing a 1,091% increased loss, and compared to a net loss of SR32,650K for the first quarter in 2011, representing a 39% reduced loss.

2. The deficit from insurance operations, before investment income, for the second quarter in 2011 was SR20,166K, compared to a SR612K deficit for the second quarter in 2010, representing a 3195% increase in deficit.

3. Gross written premiums for the second quarter in 2011 were SR531,393K compared to SR415,384K for the second quarter in 2010, representing a 28% increase. Net written premiums for the second quarter in 2011 were SR530,719K compared to SR414,371K for the second quarter in 2010, representing a 28% increase.

4. The costs for claims incurred for the second quarter in 2011 were SR395,495K compared to SR330,779K for the second quarter in 2010, representing a 20% increase.

5. Net investment income from insurance operations for the second quarter in 2011 was SR730K compared to SR171K for the second quarter in 2010, representing a 327% increase. Net investment income of shareholders for the second quarter in 2011 was SR93K compared to SR179K investment income for the second quarter in 2010, representing a 48% reduction.

6. Net loss for the six months ended 30th June 2011 was SR52,457K compared to a net loss of SR14,569K for the same period in 2010, representing a 260% increased loss.

7. Loss per share for the six months ended 30th June 2011 was SR1.32 compared to a loss of SR0.36 per share for the same period in 2010.

8. The deficit from insurance operations, before investment income, for the six months ended 30th June 2011, was SR52,902K compared to a SR13,210K deficit for the same period in 2010, representing a 300% increased loss.

9. Gross written premiums for the six months ended 30th June 2011 were SR1,272,473K compared to SR1,052,358K for the same period in 2010, representing a 21% increase. Net written premiums for the six months ended 30th June 2011 were SR1,271,176K compared to SR1,050,845K for the same period in 2010, representing a 21% increase.

10. The costs for net claims incurred for the six months ended 30th June 2011 were SR770,523K compared to SR658,320K for the same period in 2010, representing a 17% increase.

11. Net investment income from insurance operations for the six months ended 30th June 2011 was SR1,485K compared to SR416K for the same period in 2010, representing a 257% increase. Net investment income of shareholders for the six months ended 30th June 2011 was SR187K compared to SR753K for the same period in 2010, representing a 75% reduction.

12. The improved result in the second quarter of 2011 versus the first quarter of 2011 was mainly due to an increase of SR15,561K in the net underwriting result, representing a 22% increase in the net underwriting result.

13. The increase in losses for the six month period ended 30th June 2011, versus the same period of the previous year, was due to the company selling on credit and arose mainly due to a change in the bad debt provision calculation methodology, based on regulatory requirements, which resulted in the bad debt provision increasing by SR56,518K during this period. There was also an increase in general and administration expenses. The net underwriting result for the six month period ended 30th June 2011, versus the same period of the previous year, was SR154,757K, compared to SR97,653k, representing a 58% increase in the net underwriting result.

14. The increase in losses for the three month period ended 30th June 2011, versus the same period of the previous year, was due to the bad debt provision increasing by SR28,599K during this period as compared to SR 1,773K, increase in the same period of the previous year. There was also an increase in general and administration expenses. The net underwriting result for the three month period ended 30th June 2011, versus the same period of the previous year, was SR85,159K, compared to SR56,879k, representing a 50% increase in the net underwriting result.

15. The joint auditors interim review report on the financial statements mentions that the financial statements have been prepared in accordance with International Accounting Standard 34 and not in accordance with the Standard of interim financial reporting issued by SOCPA. However the company assures that there are no significant differences in the results contained within the financial statements due to using International Accounting Standards rather than the SOCPA accounting standards.