Dubai Holding reiterates commitment to Corporate Social Responsibility initiatives

DUBAI, 31 July 2007: In a strategic CSR initiative to underpin its business ethos - 'For the Good of Tomorrow' - Dubai Holding has contributed over AED 100 million to add meaningful value to society through social, ethical, environmental and economic activities.

HE Mohammad Al Gergawi, Executive Chairman, Dubai Holding said: "Dubai Holding regards service to the community as a crucial component that plays a pivotal role in the country's progress. As a premier organisation and a frontrunner in various strategic initiatives, it is our responsibility to contribute to the welfare of the society in which we operate. This is one of our core values."

As one of the fastest growing companies in the Middle East, with business interests in diverse life improving sectors, Dubai Holding believes it should set an example for others to follow. Its Corporate Social Responsibility programmes not only benefit communities but also add value to its employees and stakeholders.

As one of its key CSR initiatives during 2007, Dubai Holding has renewed its commitment to the community by pledging nearly AED 1.5 million to two organisations - the UAE Beit El Khair and the Dubai Autism Centre.

Over the past two years, Dubai Holding has contributed more than AED 80 million in projects and activities such as a state-of-the-art facility for Zayed University and Dubai Education Council.

Sport is another key area Dubai Holding has been eager to expand as part of its community development activities. The Group made a contribution of AED 20 million as official sponsors of the UAE national football team, the winners of the 18th Gulf Cup Soccer Championship held earlier this year in Abu Dhabi. Moreover, it had earlier invested AED 1.5 million to sponsor the Victory F1 Power Boat team.

Al Gergawi added: "This year's financial contribution will greatly enhance the organisation's existing CSR programmes, and will result in additional benefits to the society in general."

In 2006, Dubai Holding facilitated the creation and development of Tamkeen, a non-profit organisation, initiated by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, for training visually challenged citizens of working age. Dubai Holding also plans to build a centre, at a later stage, to offer this invaluable training to enable visually challenged citizens to become active participants in the workplace.

Al Gergawi said: "Dubai Holding believes it is important to complement commercial growth with good corporate citizenship. Even as we rapidly drive our business to cross new milestones, we regard it as our duty to share the responsibility of the general welfare of the community."

With resources and capabilities to implement projects that initiate social change, the Dubai Holding charter ensures that the corporate guiding principles of integrity, innovation, excellence, loyalty and retaining talent are applied to its social responsibility agenda as well.