Al Qudra Holding announces record profits of AED300 million for the mid year period of 2006

The company's profits have exceeded all shareholders' expectations and are expected to double by year end to reach 600 million AED. These will double the paid capital of 2006.

"We are pleased to announce that our mid year profits reached 300 million AED and we are looking forward to doubling the amount by year end."

said Eng. Salah Salem Bin Omair Al Shamsi, Chairman and Managing Director, Al Qudra Holding at the recent Al Qudra Board meeting. "There are huge investment opportunities in the UAE and we wish to capitalize upon all industries and sector developments in order to maximize shareholders returns and assist in building the economy we live in."

Representing the board meeting included His Excellency Khalifa Yousef Khoury; Her Excellency Shamsa Darwish Al-Ketbi; His Excellency Matar Suhail Alibhoni; His Excellency Salem Rashid Al-Neyadi; His Excellency Hassan Ferdan (Deputy Chairman of the Board); His Excellency Amer Abdul Jalil Fahim; His Excellency Mubarak bin Hamouda as well the Founder and Chairman and His Excellency Eng. Salah Salem Bin Omair Al Shamsi. The meeting, which took place at the new high-tech Meena Towers offices, discussed industrial, real estate, infrastructure and privatization projects taking place and analysed new investment opportunities that the region is offering. The board also reviewed the interim financial results for the period from January to 30 June 2006, with the expected net profit for the first six months of the year 2006 totaling 300 million AED, exceeding the total annual profits of 211 million AED of 2005 and achieving a 50% return on the capital. The board also examined forthcoming management activities, the business plan, employment and training programs, the organizational structure and the latest project updates on the Al Qudra Holding Building at Al Mina Road.

"I would like to express my gratitude to each and every individual involved in making this year a success." said Eng. Salah Salem Bin Omair Al Shamsi. With Al Qudra Holding's intention to become a public shareholding company at the beginning of 2007, we have implemented amendments to the current business plan and have elected board members in charge of managing the processes. We also formed new committees including Investment, Auditing, Risk Management and Real Estate to ensure the company is working with total transparency keeping investors and shareholders well aware of the company's financials."

The board members expressed their sincere appreciation to all employees and the Al Qudra Holding founder for all the achievements the company has attained and the social contributions that the company has been involved in, proving once again to be the ideal investment company.

Al Qudra Holding is currently involved in various projects related to different sectors to be announced shortly.