Tabreed's second quarter net income up by more than 85%

Notes and media contacts

Tabreed is one of the leading suppliers of district cooling services in the United Arab Emirates. Tabreed designs, engineers, finances, constructs and operates district cooling facilities that supply chilled water for air conditioning. In addition, Tabreed has expanded its district cooling operations by establishing subsidiaries and associate companies in Qatar, Bahrain, Jordan, Oman, Saudi Arabia and Kuwait. Tabreed has also developed a number of subsidiary companies which service the district cooling and air conditioning industry.

Tabreed currently operates 31 district cooling plants (of which it wholly owns 22) in the UAE from which it sells chilled water air conditioning services to customers that are connected to the relevant distribution network. Tabreed and its subsidiaries own 227 Kton of capacity in the GCC region, of which 220 Kton is in the UAE and 7 Kton is in Bahrain. It operates further 97 Kton through associates, of which 67 Kton is in the UAE and 30 Kton is in Qatar.

In addition, based on existing arrangements, Tabreed has in the GCC region a 722 Kton pipeline of projects under construction/development and a 473 Kton pipeline of potential new projects, expected to be installed by the end of 2010. The UAE Armed Forces has been Tabreed's major customer to date, accounting for, in the fiscal year ended 31 December 2007, approximately 47% of installed capacity owned (directly and through subsidiaries) (53% of installed capacity operated) and 67% of its district cooling revenues.

Tabreed's current authorised and issued share capital is Dhs1.213bn. Tabreed is listed on the Dubai Financial Market ("DFM") and has a wide shareholder base. Its shareholders include government bodies and investment institutions, private offices of high net worth individuals, overseas investors and the public.

For further information:

Rita Chahoud
PR and Communications Manager, Tabreed
Tel: +971 4 3404422
Fax: +971 4 340