New DIFX Board appointed

Notes and media contacts

For further information please contact:

Mark Fisher
Dubai International Financial Exchange
Tel: +971.4.362.2451
Fax: +971.4.362.2236

Amira Abdulla/ Elizabeth Maclean
Dubai International Financial Centre
Tel: +971.4.362.2433
Fax: +971.4.362.2236
Or
Tom Wyatt
Tel: + 44 20 7758 2800

The three newly appointed Directors are:
Soud Ba'alawy, Chairman; (Non-Independent Director)
Adel Al Shirawi (Independent, Public Interest Director)
Saad Abdul Razak (Independent Director)

The four current directors who will continue to serve are:
Bisher Barazi (Non-Independent Director)
Essa Kazim (Non-Independent Director)
George Möller (Independent Director)
Shadi Sanbar (Independent, Public Interest Director)

BIOGRAPHICAL DETAILS

Chairman

Soud Ba'alawy is the Executive Chairman of the Dubai Group. He has extensive experience in banking and finance, having worked with Citigroup in the UAE. Prior to joining Dubai Group, he was Chief Investment Officer for Dubai Internet City and Vice President of The Executive Office.

A leading figure in the business community, he is on the board of several major local and international companies including Noor Islamic Bank, Emirates Integrated Telecommunications Company, Dubai Financial Market and Marfin Popular Bank.

Independent Directors

Adel Al Shirawi is Chief Executive Officer of Tamweel PJSC, the leader in home finance in the UAE. Prior to joining Tamweel, he has served as Executive Director and Chief Technology Officer at the Ports, Customs and Free Zone Corporation (PCFC) and as Secretary General and Executive Director, Shared Services at the Corporate Office Group.

Within the UAE's booming residential and commercial real estate finance segment, he has established Tamweel as a leading provider of innovative Shari'ah compliant home finance products. The World Economic Forum (WEF) recently nominated him as one of the Young Global Leaders for 2007.

Saad Abdul Razak is the Group Chief Executive Officer of Dubai Islamic Bank (DIB), the world's first Islamic bank established in 1975. He has over 20 years of experience in senior management positions at leading international financial institutions, including ABN AMRO and Standard Chartered. He joined DIB in 2001.

He also serves on the boards of a number of leading UAE corporates, including du, Dubai World, Dubai Ports World, Al Burj Real Estate, Deyaar Real Estate Development, Millennium Capital and Al Islami Financial Services.

George Möller is currently Chief Executive Officer, Robeco Groep NV an international asset manager wholly owned by Rabobank. He is a former member of the Managing Board and Chief Operating Officer of Euronext NV and was the President of the Federation of European Securities Exchanges. He was General Manager of the European Options Exchange and following its merger with the Amsterdam Stock Exchange became Chief Executive (President) of Amsterdam Exchanges NV. He was also a director of LIFFE plc from 1992-1996 and its Deputy Chairman from 2002-2004.

Shadi Sanbar is Chief Financial Officer to Kingdom Holding Company, the international investment group founded by His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz al Saud.

A US Certified Public Accountant, he has more than 30 years experience in the US and the Middle East with major accountancy firms, most recently Ernst & Young.

Non-Independent Directors

Bisher Barazi is Managing Director of DIFC Investments, the Dubai International Financial Centre's investment unit and acting finance director of the DIFC Authority. He was formerly head of the Corporate Finance unit of the Technology and Media Free Zone (TECOM) in Dubai. He began his auditing and finance career with Arthur Andersen.
Essa Kazim is Chairman, Dubai Financial Market (DFM). He is a member of the DIFC Authority Board. He is the Chairman of Dubai Statistics Centre, a member of the Dubai Council for Economic Affairs and a Board Member of Noor Islamic Bank.

About DIFX
The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent.

The exchange launched in September 2005 and currently has 18 Members - ABN AMRO, Arbuthnot Securities, Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, EFG-Hermes, Hichens, Harrison & Co, HSBC, ING Bank NV, Jefferies International, KAS BANK, Morgan Stanley, Merrill Lynch, Mashreq Capital (DIFC), NBD Investment Bank, SHUAA Capital and UBS.

Issuers on the DIFX: Equities - Albaraka Banking Group (ordinary shares), Boulder Steel (ordinary shares), Citigold Corporation (ordinary shares), Fortune Management (ordinary shares), Gold Fields (American depositary shares), Hikma Pharmaceuticals (global depositary receipts), Kingdom Hotel Investments (ordinary shares), Man Industries (India) (global depositary receipts), Monarch Gold Mining Company (ordinary shares), Rana Sugars (global depositary receipts); Bonds - DP World (Medium Term Notes), Dubai Holding Commercial Operations Group (Medium Term Notes), MashreqBank (Medium Term Notes), National Bank of Dubai (Medium Term Notes); Islamic products - Aabar Sukuk (Sukuk), DAAR International Sukuk (Sukuk), DIB Sukuk (Sukuk), DIFC Investments (Sukuk), Dubai World Sukuk (Sukuk), IIG Funding Ltd (Sukuk), Nakheel Development (Sukuk), Ports, Customs and Free Zone Corporation (Sukuk), TID Global Sukuk (Sukuk); Structured Products - Deutsche Bank (certificates over indices).

The regulator of the DIFX is the Dubai Financial Services Authority (DFSA). The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is DIFC Investments.