PRINCE ALWALEED BIN TALAL OF SAUDI ARABIA PURCHASES 5% OF APPLE COMPUTER FOR US$115 MILLION
Riyadh, Saudi Arabia, April 2 - HRH Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud of Saudi Arabia announced today that he now holds more than 5% of Apple Computer, Inc. He purchased the shares on the open market over the last several weeks for an aggregate investment of US$115 million.
In announcing his investment, Prince Alwaleed stated: "I have been following the technology industry closely for quite some time, and Apple in particular for a number of months. I believe there is serious potential for Apple to provide large returns to its stockholders once again, as it did in the past."
Noting press reports last week that Silicon Valley software leader Larry Ellison may try to acquire control over Apple, Prince Alwaleed said he "will monitor events closely" to see what steps are taken by Mr. Ellison, by Apple's current management, or by others, to improve returns to Apple stockholders.
Prince Alwaleed's previous international investments include substantial interests in Citicorp, the global bank holding company, the Four Seasons Regent international luxury hotel chain, the Fairmont Hotel chain, Saks Fifth Avenue -- the U.S. fashion retailer, the Plaza Hotel in New York, the George V Hotel in Paris, the Copley Plaza Hotel in Boston, the Four Seasons Hotel in London, the Disneyland theme park in Paris, the Canary Wharf real estate development in London, Mediaset -- the commercial television and advertising subsidiary of the Fininvest Group in Italy, TransWorld Airlines (TWA), Norwegian Cruise Line ASA (NCL), Arab Radio & Television, and entertainment businesses jointly owned with the American entertainer Michael Jackson.
Prince Alwaleed is a private entrepreneur and international investor who also maintains among his holdings substantial interests in Saudi Companies such as the United Saudi Commercial Bank, Saudi Cairo Bank, Azizia - Panda United Corporation, Herfy Fast Food Co., Deema United Food Industries Corporation, Azizia Commercial Investment Co., Al-Mawashi Al-Mukairish United Livestock Co., National Industrialization Company, Silki La Silki Telecommunication Co., and Rotana Audio-Visual Production Co.
HRH Prince Alwaleed is currently building Four Seasons Hotels in Cairo, Riyadh, Jeddah, Damascus, Amman, Tunis, Beirut, Sharm El-Sheikh and elsewhere in the Arab World.
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SOURCE Apple Computer
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