Dubai International Capital launched to promote the strategic growth of Dubai Holding

DUBAI, 27 October 2004: Dubai Holding, (one of the largest Groups in the Middle East), has announced the launch of 'Dubai International Capital' to promote the strategic growth of the Group.

Mohamed Al Gergawi, Chairman of the Board, Dubai Holding said: "Dubai International Capital will focus on building a diversified international investment portfolio, which will yield above average returns. The company will furthermore create regional and international strategic alliances which will promote the aims of the Group."

He added, "Launching Dubai International Capital is an important step towards promoting and supporting the growth of Dubai Holding through creating new opportunities for growth in various sectors which will have positive results for the group and the national economy."

Al Gergawi said, "Dubai International Capital will concentrate on unique investment opportunities both within and outside the region. It will also work on acquiring shares in some of the leading companies and form alliances which promote the future growth of Dubai Holding and each of its member companies."

Sameer Al Ansari, CEO of Dubai International Capital, said: "The company is already evaluating several investment opportunities in well established companies around the world".

He added, "Dubai International Capital will invest in different types of companies in various sectors. The company will focus on a large geographic region which will cover the Middle East, US, Europe and Asia."

Al Ansari said, "The investment strategy will include investments in late stage companies through direct investments, mainly in Gulf and Middle Eastern companies, with a score being large and medium sized family owned businesses. Under the pressures of globalisation and increasing competition, such companies might need extra financial resources or expertise in order to consolidate their overall performance and consequently be better equipped to face these pressures."

"Dubai International Capital will always be there to help such companies finance their plans. Dubai International Capital will further strive to provide other forms of support to such companies, through the extensive business contacts of the Dubai Holding Group region-wide," Al Ansari added.

Al Ansari went on to say, that the company is developing strategic partnerships with international financial institutions, and it aims to focus on mergers and acquisitions, immediately after concluding its present survey of the region's business environment. The company will thereafter select a promising investment sector, acquire the most successful players and then go for mergers, in order to benefit from volume economies and their higher profits.

The shares of the new merged company may then be listed for trading in an international exchange such as the Dubai International Financial Exchange, said Sameer Al Ansari, the CEO of Dubai International Capital.