[2009-05-11]

King Abdulaziz City for Science & Technology and Index

establish Joint Multimedia Technologies Center of Excellence

for developing the Digital Contents Industry in the Kingdom

King Abdulaziz City for Science and Technology (KACST) announced today that KACST and Index Group signed an agreement for establishing a Multimedia Technologies Center of Excellence as a joint venture between KACST and Index Holdings, a pioneering Japanese company in the field of multimedia and digital content and Index Middle East Company. This announcement took place during the first day of the International forum for Information and Telecom Technology and Other Advanced Technologies which started on Sunday 1 Jamada Alawla 1430H corresponding to 26 April 2009 in Riyadh city. Pursuant to this agreement, the parties will cooperate in establishing and developing technologies supporting multimedia and advanced digital content industry in the Kingdom of Saudi Arabia.

His Highness Prince Turki bin Saud bin Mohammed Al Saud, Vice President of KACST for Research Institutes, who signed this agreement as a representative of KACST said that this project is one of the projects of King Abdullah initiative for digital content and national policy for science and technology. His Highness also assured that the agreement covers training of Saudi employees for periods ranging from 3 months to two years on practicing professional works in the field of multimedia, and these academic and professional advanced training programs will be the first of their kind in the kingdom. The project also aims at producing and publishing intellectual products of the kingdom people in the field of multimedia industry throughout the world. He also pointed out that the start-up of this project would be announced upon completion of the set-up period and preparation for implementing the agreement.

Chairman of Index Middle East Company Mr. Bassam Al-Dhabaan stated that Index Middle East would act as a project manager for this project in Saudi Arabia in association with Index Group which involves Madhouse (internationally recognized Animation Studio), Dynamo Pictures (High Quality 3D Studio), and Atlus (High Quality Games Studio) for purpose of creating distinctive viable businesses for Saudis in this field also finding job opportunities for Saudis at large companies working in the multimedia and digital contents industry.

By virtue of this agreement, Index Holdings Companies will send specialized trainers for purpose of practical training on different fields in the multimedia technologies.

This project which is achieved by Index Group will be the first of its kind in the Middle East, as the group has been already engaging in similar businesses in Europe, China, South Eastern Asia and the USA for providing internationally advanced multimedia and digital content products and services.