Dubai Investments net profit soars to Dhs1.67bn for nine month of 2008

Net profit for the Period increased to Dhs1.67bn from Dhs1.07bn for the same period last year, an increase of 56%. Total income for the Period increased to Dhs4.10bn from Dhs2.59bn for the same period last year, an increase of 58%.

The net profit for the third quarter of 2008 (3Q08) increased to Dhs635m from Dhs268m for the third quarter of 2007 (3Q07), an increase of 137%. The total income for 3Q08 increased to Dhs1.44bn from Dhs812m, an increase of 77%.

Total Shareholders' Equity ("Equity") at 30 September 2008 was Dhs7.38bn, representing a growth of 66% over Equity of Dhs4.44m at 30 September 2007. This was achieved due to significant growth in net profit and increase in share capital on rights issue. The return on average equity achieved for the Period is 27%. The earnings per share (EPS) for the period is Dhs0.49, higher than the EPS of Dhs0.36 for the previous period.

"Our exceptional performance even during these difficult times of financial uncertainty reflects our ability to deliver results exceeding expectations on a sustainable basis,"

said Khalid Bin Kalban, Managing Director and CEO of Dubai Investments.

"This growth has been achieved mainly through the outstanding performance of group companies and through significant gains from our real estate ventures. The strategic divestment of 40% of M'Sharie LLC has also contributed to the phenomenal results achieved. We expect to maintain this growth momentum into the future due to the diversified nature of the Group and further drive up the profits in the last quarter of 2008."