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

DUBAI, 16 March 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.