Dubai Financial Market's Board of Directors proposes cash dividend of 10%

This announcement follows a meeting of the DFM Company Board of Directors, which was held today, and is subject to ratification at the company's Annual General Meeting to be held next month.

This proposal follows DFM Company's announcement of its audited financial results for the year ending December 31, 2007. DFM Company recorded a net profit of Dhs1.440bn for 2007, compared to Dhs797m for 2006, an increase of 80%. Due to the increase in the company's profits, the earnings per share of DFM Company reached Dhs0.18 for 2007.

The Board of Directors approved the Annual General Meeting agenda. The meeting will be held on Thursday, March 20, 2008, after the Emirates Securities and Commodities Authority (ESCA) approval.

Essa Kazem, Chairman of the Dubai Financial Market, said: 'We are pleased to announce this proposal to all our shareholders. DFM signalled another year of excellence and success in 2007 after the listing of DFM Company in the market on March 7, 2007, as the first financial market fully compatible with Islamic Sharia. The market witnessed the listing of 16 companies in 2007 as a direct result of the market's high levels of liquidity.'

He added: 'Finally, we would like to thank His Highness, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and Ruler of Dubai, and the Dubai Government for their continues support to Dubai Financial Market, to consolidate Dubai as the most important financial regional hub, and achieve the Dubai strategy 2015 to elevate the role of the financial sector to be one of the most important future development objectives. This support is reflected in the successes of DFM and in its leading position among the financial markets in the world. We would also like to thank all our shareholders for their confidence in DFM Board of Directors.'