Mashreqbank & WestLB announce successful closure of Dhs3bn syndicated loan facility for du

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About Mashreq
Mashreq is the largest private bank in the UAE and also the second oldest. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry. It is invariably among the highest performing banks in the region. Mashreq has received numerous international awards, particularly for quality management. According to independent research it has more ISO certifications than any bank in the region by a wide margin.

As a leading financial Institution in the UAE Mashreq aims to be world class in every facet of its business, including its social responsibility to the community it serves. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.

About WestLB
WestLB AG is one of the largest banks in Germany, with total assets in excess of € 280 billion. WestLB is one of the leading arrangers of syndicated financing and capital markets transactions in the Central Eastern Europe Middle East and Africa region with a particular focus on the Middle East, Turkey, Russia / CIS and sub-saharan Africa.

In the first half of 2008, WestLB has acted as a lead arranger on over $16 bn of syndicated acquisition and corporate debt facilities for borrowers within the CEEMEA region which, in the context of the Middle East have included financings for institutions Bukhatir Investments Limited, Dubai International Financial Centre Investments LLC, Global Investment House KSC, Boubyan Petrochemicals Co. K.S.C., International Petroleum Investment Company and Saad Trading, Contracting and Financial Services Company.

About du
du, the integrated telecom service provider in the UAE, launched mobile telecommunication services on 11 February 2007 across the UAE in addition to internet and pay TV services in some of the free zones of Dubai. Call Select, the first of du's nationwide Fixed line services for voice telephony, was launched in July 2007.

Among du's many firsts is its historic Number Booking Campaign for both individuals and business, Pay by the Second billing system, Mobile TV, Mobile Payments, first of its kind 'WoW' recharge card (which offers customers the choice between more credit and more time) and

Self Care. du business offers include Closed Business User Group and preferred International Destinations.

du's retail network, currently numbering 16 du shops located in strategic locations across all emirates, was launched on 25 February 2007, supporting the delivery of du services to customers.

du is 40% owned by the UAE Federal Government, 20% by Mubadala Development Company, 20% by Emirates Communications & Technology Company LLC and 20% by public shareholders. It is listed on the Dubai Financial Market (DFM) and trades under the name du.

du was recognised as the 'Best Brand' for its innovative branding and outstanding success at the Telecom World Awards Middle East 2007.