Dubai Holding announces sponsorship of UAE'S F1 powerboat racing team

DUBAI, 17 May 2005: Dubai Holding has announced that it will sponsor the Emirates Team for the Formula One Powerboat Racing World Championships.The UAE team currently holds the World Championship title.

"Dubai Holding is delighted to be sponsoring the Champion Team. Our sponsorship of the Formula One World Powerboat Racing Champions demonstrates our commitment to the support and growth of sports in the country," said Khaled Al Malik, Chief Executive Officer of Dubai Industrial City (a member of Dubai Holding).

"Only a few weeks ago, Dubai Holding had announced that it is supporting the UAE's national game by sponsoring the Emirates Football Team," he added.

Malik pointed out that the Emirates Team has tremendous potential. "Powerboat racing is a sport in which the UAE team has proven that it can excel and rise above a global field of contenders to win the World Championship. We are very confident that our sportsmen will continue to excel and are well on their way to making a powerful bid to retain the World Title that they had won last year."

Promoting Sports
"Dubai Holding is a firm believer in promoting the country and giving back to the society. We believe in promoting good sportsmanship - both on and off the field, in sports and in business. We believe that in sponsoring the Emirates Team in the Formula One Powerboat Racing Championships, Dubai Holding is helping to improve the level of the sports in the country and ensuring that the UAE is well represented internationally," Malik said.

The Emirates team is owned and managed by the Abu Dhabi International Marine Sports Club. It currently holds the title of World Champion for the F1 World Powerboat Championship, having won the highly prized title in 2004. The team has been on a major training exercise to be in top shape to successfully defend its title this year, when the 2005 championship kicks off in Portugal on 22nd May 2005.

Key Support
Saif Al Suwaidi, General Manager of Abu Dhabi International Marine Sports Club welcomed the sponsoring of the Emirates Team by Dubai Holding. "We thank Dubai Holding for this support. We firmly believe that their sponsorship of the Emirates Team will be instrumental in helping the team's performance this year.

"We have been busy preparing to defend our World Championship title and this support from Dubai Holding comes at an important time when we are just about to get into the action to defend our World Title. The support from a leading UAE institution such as Dubai Holding is going to prepare our champions to excel even further," he added.

For the 2005 F1 World Powerboat Racing Championship, the UAE will field two drivers. They include UAE national Thani Al Qumzi, with his boat No. 28. Al Qumzi is ranked 7th amongst 24 pilots. The other driver is Scott Gillman with his boat No. 27. Gillman is a winner of the Triple Crown for most accumulated points.

The UIM Formula 1 World Championship will begin the 2005 season in Portugal with the 7th Annual Grand Prix of Portugal. The championship rounds will continue around the world into December, to reach the UAE on 9th December in Abu Dhabi, and on 16th December 2005 in Sharjah.

Dubai Holding currently has 20 companies operating in a variety of sectors ranging from health, technology, finance, real estate, research, education, humanitarianism, tourism, energy, communication, industry, biotechnology and hospitality.

These companies include: Dubai Internet City, Dubai Media City, Dubai Healthcare City, Dubailand, Jumeirah International, Dubai International Capital, Dubai Industrial City, Dubai Properties, Dubai International Properties, Dubai Investment Group, Dubai Humanitarian City, Dubai Knowledge Village, Arabian Radio Network, Dubai Outsource Zone, International Media Production Zone, E-Hosting Datafort, Empower, Samacom, Dubiotech and Dubai Studio City.