AL MASANE AL KOBRA MINING CO.

AL MASANE AL KOBRA MINING CO.

September 27, 2010

To: Arabian American Development Company,

Re: SIDF Loan and Corporate Guarantee/Comfort Letter

Attention: Mr. Xxxx Xxxxxx

As provided in the August 5, 2009 Compromise Agreement signed by all Xx Xxxxxx Xx Xxxxx (“AMAK”) shareholders, Arabian American Development Company (“AADC”) owns forty-one percent (41%) of AMAK’s shares and is under no requirement or obligation to contribute any further capital to AMAK. In consideration of this agreement and as discussed and agreed to in the September 27, 2010 meeting of the AMAK Board of Directors, we agree to use our best efforts on any SIDF collection proceedings related to the personal and corporate guarantees to prioritize our personal guarantees ahead of the AADC corporate guarantee. This agreement applies only to the 330 million Saudi Riyal SIDF loan No, 2234 dated the 22nd day of Ramadan 1431 H, corresponding to the 1st day of September  2010 G.

/s/Xxxxxxxx Xxx Xxxxx Xxxxxxxx____                                                                                    /s/ Xxxxxxx Xxx Xxx Xxx Xxxxxxxx_____

Eng’x. Xxxxxxxx Xxx Xxxxx Xxxxxxxx                                                                                      Xx. Xxxxxxx Bin Ali Bin Xxxxxxxx

/s/ Xxxx xxx Xxx Xxx Xxxxxxxx_________                                                                                     /s/ Xxxx Xxx Xxxxxxx_______________

Xx. Xxxxx Bin Ali Bin Xxxxxxxx                                                                                                      Xx. Xxxx Xxx Xxxxxxx

Xx. Xxxxx Xx Shair________

Xx. Xxxxx Xx Xxxxx