GEM places orders at Hyundai Mipo Dockyard for four chemical/product tankers

Notes and media contacts

ABOUT ENOC
Established in 1993 as a wholly-owned company of the Government of Dubai, ENOC aims to promote the interests of its shareholders through the development of further downstream and upstream activities in the oil and gas sector and beyond and to encourage the economic diversification of Dubai and the rest of the UAE.

Leadership and guidance of ENOC are provided by its Chairman, H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance and Industry.

ENOC actively participates in an increasingly broad range of business ventures. Its joint ventures with major international companies allow partners to pool their technology, know-how and expertise along with their resources to further their commercial success.

Since its inception, ENOC has been guided by its philosophy of quality and professional management based on modern business concepts for commercial success and sustainable growth. Today it is poised to engineer a new and challenging period of growth and diversity.

ENOC's mission is to be the reliable Energy Partner of Choice in each sector in which it operates.

ABOUT IPIC
IPIC is wholly-owned by the Government of Abu Dhabi and was established in 1984 to invest in the hydrocarbons and related sectors outside of Abu Dhabi. IPIC operates on commercial principles with the objective of maximising the long run shareholder value of the company. This is achieved by vigorous participation at the strategic level in every company in IPIC's portfolio, currently valued at over US $3 billion. Included in IPIC's portfolio are a controlling stake in Hyundai Oilbank Co. Ltd. (HDO), the Korean refiner/marketer, and a 20% stake in OMV Aktiengesellschaft (OMV), the Austrian National Oil Company. IPIC is committed to aggressive future expansion, by adding further high-quality investments to its portfolio. IPIC brings reassuring ownership and a track record of successful ethical investing to every investment which it undertakes. IPIC is run by an independent Board of Directors, under the Chairmanship of H.H. Sheikh Mansour Bin Zayed Al Nahyan.

ABOUT OMAN OIL COMPANY (OOC)
Oman Oil Company (OOC) is a commercial company 100% owned by the Government of the Sultanate of Oman. The company was created in 1992 to give the Government a vehicle for pursuing investment opportunities in the energy sector both inside and outside Oman. Through participation in energy and energy-related projects, OOC plays a critical role in the Sultanate's efforts to diversify the Omani economy and to generate Omani and foreign private sector investments. In Oman, OOC has interests in numerous projects that are either in operation, under construction or under development, including projects in gas transmission, petroleum retailing, refining, petrochemicals and aluminium smelting. Outside of Oman, OOC has interests in exploration and production, crude oil pipelines and petroleum product logistics.

ABOUT THALES:
Thales is an international electronics and systems group serving the defence, aerospace, services and security markets. The group employs over 60,000 people worldwide and generated revenues of €10.3 billion in 2004. Thales has been present in the United Arab Emirates for more than 30 years, addressing both the defence and the civilian security markets. Thales has supplied, for example, military radios, ground-to-air communication systems, air defence systems, on-board electronic systems for fighter aircraft and warships, as well as civilian air traffic control systems for UAE airports and thousands of electronic payment terminals to UAE banks. Thales has been involved in the UAE Offset Programme since its inception in the early 90s and since then has developed several projects in a variety of industries.

For further information, please contact:
Tania Harasimiuk/Patricia Tellis
ASDA'A Public Relations,
Exclusive Affiliate of Edelman PR Worldwide in Middle East and North Africa
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556