BORSE DUBAI

Dubai International Financial Exchange (‘DIFX’)

DIFX welcomes DP World listing; Largest IPO in Middle East at 4.96 billion dollars

Dubai: 26 November, 2007 - DP World, the international ports operator, listed today on the Dubai International Financial Exchange (DIFX) in the Middle East’s largest initial public offering (IPO) valued at 4.96 billion dollars.

It is the first IPO to list exclusively on the DIFX, the region’s international exchange, and the offering to a wide range of institutional and retail investors was oversubscribed more than 15 times. It is the first listing on the DIFX by a UAE company.

Soud Ba’alawy, Chairman of the DIFX, said: “DP World’s listing is a milestone for the DIFX in its growth as a leading international trading platform.

“It highlights the emergence of the exchange as the ideal market for companies seeking international and regional institutional investment, together with retail investment from the exchange’s own wealthy region.”

DP World, wholly owned by Dubai World until the IPO, has listed 3.818 billion shares, representing 23% of the company. They were priced at US$1.30 each – the top of the indicative range of $1.00 - $1.30 announced by the company at the start of its bookbuilding pricing process. The final allocation included an extra 498 million shares due to high demand.

Sultan Ahmed Bin Sulayem, Chairman of Dubai World and of DP World, said: “DP World is a Dubai-based company with a need for a globally significant listing venue. It benefits from the regional links of the DIFX together with its strong international links and regulatory standards.”

Essa Kazim, Chairman of Borse Dubai, the holding company for the DIFX said: “This step is in line with Borse Dubai’s strategy to attract leading local companies, which will act as a catalyst to attract further substantial equity listings from regional and international companies.”

DP World operates ports from the UAE to the UK, from India to Hong Kong and from Australasia to the Americas. It is the world’s fourth largest marine terminal operator.

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Notes to Editors

About Borse Dubai
Borse Dubai is the holding company for Dubai Financial Market (DFM) and Dubai International Financial Exchange (DIFX). Borse Dubai was created 6 August, 2007 to consolidate the Government of Dubai’s two stock exchanges as well as current investments in other exchanges, expanding Dubai’s position as a global capital market hub.

Borse Dubai builds on existing synergies between both exchanges with improved infrastructure to better serve all stakeholders. Borse Dubai continues to explore opportunities with capital markets across the globe to leverage technology, liquidity, regulation and expertise.
Borse Dubai’s growth mandate is extracted from the 2015 Dubai Strategic Plan which has defined financial services and capital markets as a key focus area to support the development and growth of regional capital markets to the highest international standards. This is complemented with Dubai’s strong heritage of building global leaders in selected industries.

About DIFX
The DIFX is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as international issuers that seek regional and international investment.

The exchange opened in September 2005 and currently has 19 Members – ABN AMRO, Arbuthnot Securities, Barclays Capital, Citigroup, Credit Suisse, Daman Securities International, Deutsche Bank, EFG-Hermes, Hichens, Harrison & Co, HSBC, ING Bank NV, Jefferies International, KAS BANK, Morgan Stanley, Merrill Lynch, Mashreq Capital (DIFC), NBD Investment Bank, SHUAA Capital and UBS.

Issuers on the DIFX: Equities - Albaraka Banking Group (ordinary shares), Boulder Steel (ordinary shares), Citigold Corporation (ordinary shares), DP World (ordinary shares), Fortune Management (ordinary shares), Gold Fields (American depositary shares), Hikma Pharmaceuticals (global depositary receipts), Kingdom Hotel Investments (ordinary shares), Man Industries (India) (global depositary receipts), Monarch Gold Mining Company (ordinary shares), Rana Sugars (global depositary receipts); Sphere Investments (ordinary shares); Unigold Inc (ordinary shares); Bonds – DP World (Medium Term Notes), Dubai Holding Commercial Operations Group (Medium Term Notes), Kuwait Financial Centre S.A.K. (Closed) (Notes); MashreqBank (Medium Term Notes), National Bank of Dubai (Medium Term Notes); Islamic Products - Aabar Sukuk (Sukuk), Cherating Capital (Sukuk), DAAR International Sukuk (Sukuk), Dar Al Arkan International Sukuk (Sukuk), DIB Sukuk (Sukuk), DIFC Investments (Sukuk), Dubai World Sukuk (Sukuk), IIG Funding Ltd (Sukuk), Nakheel Development (Sukuk), Ports, Customs and Free Zone Corporation (Sukuk), TID Global Sukuk (Sukuk); Structured Products - Deutsche Bank, Merrill Lynch, Morgan Stanley

The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is owned by Borse Dubai Limited, a holding company which also owns the Dubai Financial Market. The DIFX is located in the Dubai International Financial Centre.

About DFM
The Dubai Financial Market (DFM) was established in March 2000 as a public institution having its own independent corporate body. It has recently turned itself into a public shareholding company and lists its shares on its own platform; a first in the region. Its goal is to create a fair, efficient, liquid and transparent marketplace that provides choices through the best utilization of available resources in order to serve all stakeholders. DFM is operating as a secondary market for trading of securities issued by public joint-stock companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market.

For further information on DIFX, please contact:
Mark Fisher
Tel: +971 50 624 5805
Email: Mark.Fisher@difx.ae

For further information on Borse Dubai, please contact:
Maliha Aqeel
JiWin
Exclusive Affiliate of Burson-Marsteller in the Middle East
Tel: +971 4 3613598
Mob: +971 50 6331976
Fax: + 971 4 3688001
Email: maliha.aqeel@jiwin.ae

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