Dubai Group and Dubai International Capital to Align under Dubai Holding Investment Group

Soud Ba'alawy and Sameer Al Ansari appointed Co-Chairs of DHIG

Dubai: 15 February, 2009 – Dubai Holding has announced that Soud Ba’alawy, Executive Chairman of Dubai Group and Sameer Al Ansari, Executive Chairman of Dubai International Capital will take on the roles of Chairmen of Dubai Holding Investment Group.

Dubai Holding Investment Group is an existing wholly-owned subsidiary of Dubai Holding that holds Dubai Holding’s stake in Dubai International Capital and Dubai Group. In addition to his current role as CEO of Dubai Group, Tom Volpe will become the CEO of Dubai Holding Investment Group and Acting CEO of Dubai International Capital.

While the ownership and core activities of Dubai International Capital and Dubai Group will not change, both companies are to forge a closer working relationship to realize efficiencies through the consolidation of their back-office operations.

Notes to Editors

For further information, please contact:

Huda Buhumaid, Dubai Group
Phone: +97150 6507704
Email: Huda.Buhumaid@dubaigroup.com

Mark Lunn, Dubai International Capital
Phone: +971 50 156 6737
Email: mark.lunn@dubaiic.com

Mamoon Sbeih, Jiwin Public Relations 
Phone: 050 – 4500771
Email: Mamoon.sbeih@jiwin.ae