RAK awards piling work contract for Hilton Beach Hotel to Dutch Foundation Co. LLC

The agreement for piling works, valued at AED 10.5 million, was signed by Sheikh Faisal bin Saqr AlQasimi, Chairman of RAK Finance
Department and Michel Farah, Deputy General Manager of Dutch Foundation Co. LLC at the RAK Ruler's Court in the presence of Jihad
Quzmar, Legal Advisor, Government of Ras Al Khaimah and Wael Aziz, Project Manager of Atkins.

The new 200- room Hilton Beach Hotel and Spa is part of the ambitious expansion plans of the existing Hilton Beach Club at Al Marid.

Speaking after the signing in ceremony Sheikh Faisal said that Ras Al Khaimah was witnessing tremendous growth in the tourism sector which
necessitated creation of more facilities and addition of new hotels.

He said that the new hotel would add to the existing facilities at the RAK Hilton Beach Club and would make it an attractive destination for
tourists.

The Hilton Beach Hotel and Spa, situated on a private white sandy shore overlooking one of the most beautiful beaches in the region,
would have tastefully furnished rooms and a range of fine restaurants offering unique dining experiences apart from a variety of leisure and
wellness facilities including a spa.

The hotel is scheduled to open by the end of 2007. The piling works would commence in April 2006 and will be completed within 13 weeks.

The overall expansion plan for the RAK Hilton Beach Club would also see the addition of around 151 chalets along with the new hotel. It
would also have excellent recreational facilities including an amphitheatre set in beautifully landscaped premises.

Atkins is the consultant for the project and the hotel will be managed by Hilton International.