DPI signs MOUs with Abu Dhabi and Fujairah

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Notes and media contacts

For further information please contact:

Middle East - Bell Pottinger Communications

Tom Mollo
+9715 0550 4203
+971 4367 2256

Robin Tozer
+44 7887 721 295
+971 4367 2256

Asia - Gavin Anderson & Company

Ilja Maynard-Gregory
+852 2218 9952
+852 9803 5702

About Dubai Ports

Dubai Ports (comprising of Dubai Ports International 'DPI' and Dubai Ports Authority, 'DPA') owns, operates and manages container terminals and ports around the world.

In 2004, the terminals operated by Dubai Ports handled over 8 million TEUS which includes ports in India (Port of Visakhapatnam), Saudi Arabia (Port of Jeddah), Djibouti (Port of Djibouti) and Romania (Port of Constantza) and the home terminals of Jebel Ali and Port Rashid. Through a sister company, DPI also manages the free zones of Djibouti as well as Malaysia's Port Kalang and the Tangier Free Zone.

DPI's unique cross-sector expertise offers solutions in all aspects of port operations, ultimately driving efficiency and financial returns for port users. DPI also enables its customers to experience the same high level of service that they have come to expect when their vessels call at Dubai. DPA is known for its ability to provide a superior level of service to shipping lines at its flagship domestic operations of Port Rashid and Jebel Ali and has been voted 'Best Seaport in the Middle East' for 10 consecutive years.

DPA ranks within the largest container ports worldwide in volume and has in recent years embarked on a significant expansion programme. Over the next 10 years, DPA is planning to increase capacity from current 6.5 million TEUS to over 20 million TEUS. Over the last three years, DPA's annual growth in throughput has averaged 23%. In December 2004, DPA reported 24% growth in its handling operations and set a cargo traffic record of 6.4 million TEUS for the year. Dubai was ranked the 11th largest port operation in the world. DPI in its four international port operations - Jeddah, Djibouti, Vizag and Constantza - achieved 66.5% growth year on year in 2004.

On 9 December 2004, DPI signed a definitive agreement to with CSX Corporation to acquire the international terminal business conducted by CSX World Terminals (CSX WT) and other related interests for a cash consideration for USD 1.15billion. CSX WT is a leading international terminal developer and operator with operations in Asia, Europe, Australia and Latin America. Following this transaction, which is due to be completed in the first quarter of 2005, DPI will rank as a top 6 global ports operator. On 30 December, CSX WT announced that it had increased its stake in Asia Container Terminals ('ACT') to 68.6%. ACT is the owner and operator of CT3, one of Hong Kong's premier container terminals.

DPI has been at the forefront of Dubai's extraordinary transformation into one of the world's leading trade and commerce hubs.