An Egyptian man held hostage by insurgents will be freed Sunday, his employer told the Al-Jazeera television Saturday, days after the company said it would agree to a demand to leave Iraq.

Faisal al-Naheet, owner of the Al-Jarie Transport (search) company, told Al-Jazeera that the militants who kidnapped Alsayeid Mohammed Alsayeid Algarabawi (search) had called to say the Egyptian driver would be released Sunday.

Al-Jazeera played a video Saturday showing Algarabawi kneeling in front of four masked men, some of whom held guns.

The group holding him, the Iraqi Legitimate Resistance (search), had demanded the Saudi company leave Iraq within 72 hours. The group issued no specific threat.

Al-Naheet said Wednesday his company would agree to the demand. Al-Naheet said the kidnappers also were demanding a $1 million ransom but his company would not pay. He did not mention the demands on Saturday.

The group said Algarabawi was snatched from a fuel truck he was driving from Saudi Arabia to the U.S. military in Iraq.

Last month, another Egyptian driver, Victor Tawfiq Gerges, was released after being held hostage by a militant group for more than two weeks.