Dubai Holding announces the launch of Dubai Energy

DUBAI, 7 June 2005: Dubai Holding announced today the launch of its new member Dubai Energy to spearhead its investments in strategic regional and global energy opportunities.

The company will focus on building a diversified global energy investment portfolio and further strengthening regional and international alliances.

During the past few years, the energy sector has undergone major metamorphosis creating opportunities previously unconceivable. Volatile energy prices, insatiable demand, evolving players, and increasing capital requirements have opened the window of prospects for uniquely positioned entrants. Dubai Energy, located at the cross-roads of the region's oil and gas reserves, will capitalize on these opportunities to build a set of complementary assets across the energy value chain and exemplify Dubai Holding's theme.

Dubai Energy will concentrate on strategic opportunities that will broaden our trade relationships and play a pivotal role in developing the importance of Dubai and the UAE in the dynamic global energy landscape. The company is actively evaluating key oil and gas prospects with leading international companies and screening potential equity investments in the broad energy sector.

Dubai Energy is an initiative under Dubai Holding which has 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.