Arabian American Subsidiary Signs Two Contracts Valued at over $29M

Arabian American Development Co. ARSD announced today that its subsidiary, South Hampton Resources, has signed two, new contracts. A five-year contract with a North America based company and a three-year contract with an international-based organization were signed for a total value of more than $29 million over the length of the contracts. This continues to diversify and globally expand the Company's customer base. The three-year agreement formalizes a contract with an existing International customer to supply 100% of its petrochemical product needs for its manufacturing process. The formal contract expands volume from previous quantities as the producer had been dual sourcing its requirements prior to signing the agreement. Total dollar value is estimated at $9 million over a three-year period based upon current market value. Volume is estimated at approximately 3.31 million pounds or 636,000 gallons annually. Total volume over a three-year period is estimated at approximately 10 million pounds or 1.91 million gallons.