VIVARTIA S.A. announces the signing of an agreement for the creation of a joint venture with Western Bakeries and Olayan Financing Company (OFC) based in Saudi Arabia for the production and distribution of the bakery division?s products. The company will be active in the GCC countries (Saudi Arabia, UAE, Kuwait, Oman, Bahrain and Qatar). Vivartia will hold 25%, Western Bakeries 60% and OFC 15% of the share capital. The total investment of the joint venture in which Vivartia will be participating with 25% will reach EUR 14 million and will include a production line in Jeddah, Saudi Arabia. Western Bakeries is the leader in the bakery market in the GCC countries with a significant distribution network and is a subsidiary of the Almarai Company- leader in the dairy market in Saudi Arabia and listed in Saudi Arabia?s stock exchange market. Olayan Financing Company is among the largest financial groups, strategic shareholder in Vivartia SA, with a significant presence in the GCC countries and worldwide. The investment is expected to be completed by the end of 2008, initiating the expansion of Vivartia in the Middle East and the GCC.