Dubai World announces DP World IPO

Notes and media contacts

1. Those eligible to participate in the UAE retail offer are (a) UAE and other Gulf Co-operation Council (GCC) nationals who are resident in the UAE or another GCC country, (b) other UAE residents with a valid residency visa and (c) corporate entities organised under the laws of the UAE or another GCC country, who, in each case, hold a securities account with one of the assigned brokers and apply for Shares according to the UAE Retail Offer in the UAE. GCC countries are Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the United Arab Emirates.

2. Twenty-foot equivalent units of containers

3. Proforma Adjusted EBITDA is defined as the sum of profit after tax from continuing operations, plus finance costs (net of finance income), income tax, depreciation and amortisation, further adjusted to remove the impact of separately disclosable items.

DP World has applied for its Shares to be admitted to the Official List of Securities of the DIFX and to list its Shares on the DIFX.

Overview
DP World is the fourth largest marine terminal operator in the world by capacity and throughput. The Company is also one of the most geographically diversified container terminal operators. Its 42 container terminals, which span 22 countries, had, in their ongoing business, a gross capacity of 48.6 million twenty-foot equivalent units (''TEUs'') as of December 31, 2006. The Company generated gross throughput of 36.8 million TEUs and 20.3 million TEUs for the year ended December 31, 2006 and the six months ended June 30, 2007, respectively.

DP World is a pure play marine terminal operator in the ports business focusing its management and resources on the operation and development of ports around the world under long-term concession arrangements.

Financials
For the year ended December 31, 2006 and the six months ended June 30, 2007, DP World generated Proforma Revenue from operations (not including revenue attributable to its joint ventures and associates) of $2,076.0 million and $1,209.0 million respectively, and Proforma Adjusted EBITDA of $705.3 million and $453.7 million, respectively.

Lead Managers
Deutsche Bank AG, Merrill Lynch International, Millennium Finance Corporation and SHUAA Capital PSC are acting as Joint Global Co-ordinators and Joint Lead Managers to the listing. The receiving banks for the UAE retail offer are Mashreq Bank PSC, Emirates Bank, Abu Dhabi Commercial Bank and First Gulf Bank. Mashreq Bank PSC is the lead receiving bank.

Sukuk Information
For holders of the PCFC Development Sukuk, the IPO of DP World will be a Qualifying Public Offering ("QPO") and, accordingly, a portion of the sukuk will be redeemed pursuant to its terms following the IPO. Further details of this will be available from 4 November.





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Enquiries:
DP World
Sarah Lockie, Head of Corporate Communications
Fiona Piper, Head of Investor Relations
Tel: +971 4 8811110

Bell Pottinger
Tom Mollo +971 (0) 50 550 4203
Elaine Boucher +971 (0) 50 422 9680

World View Communications
Sanaa Maadad +971 (0) 50 552 2610

Brunswick Group LLP
Jon Coles / Chris Blundell
Tel: +44 (0) 20 7404 5959

Deutsche Bank AG
Iain Macleod
Managing Director, Head of Infrastructure EMEA

Christopher Laing
Managing Director, Head of GCC ECM

Melanie Saluja
Managing Director, Equity Capital Markets

Tel: +44 (0) 20 7545 8000

Merrill Lynch International
Justin Anstee
Managing Director, Head of European Transport

Lorcan O'Shea
Director, Equity Capital Markets

Tel: +44 (0) 20 628 1000

Millennium Finance Corporation
Alexandre Markarov
Managing Director, Investment Banking

Lachlan Davidson
Head of Legal

Tel: +971 4 363 4200


SHUAA Capital PSC
Salam Saadeh
Managing Director, Investment Banking Group
Tel: +971 4 319 9730

Makram Kubeisy
Managing Director, Investment Banking Group
Tel: +971 4 319 9782