Dubai Holding Commercial Operations Group Repays AED 2.4bn in Eurobonds and Maturing Bank Loans

Dubai: 26 November, 2008 - Dubai Holding Commercial Operations Group (DHOG), the holding company of Dubai Holding's real estate, tourism, infrastructure and telecommunications business, announced today that it has repaid its first publically traded Eurobonds.

The AED 1.0 billion Eurobonds issued last year, as part of broadening the company's investor base and funding sources, matured in November this year and were repaid from the company’s internal cash flows.

This, in addition to recent repayment of an AED 1.4 billion of amortizing and maturing bank loans, highlights that the company continues to operate from a position of strength.

Dubai Holding Commercial Operations Group has been rated “A1 Stable” by Moody's Investor Service, “A+ Stable” by Standard & Poor's and “AA- Stable” by Fitch Ratings since the ratings were announced in January 2007.

Notes to Editors

About Dubai Holding

Dubai Holding was launched in October 2004 to consolidate the various large-scale infrastructure and investment projects in Dubai, as well as to identify opportunities to develop future major projects that will benefit the UAE and the region.

The company has been created with the goal of providing a better future for all through the range of life-improving industries it is involved in. Each Dubai Holding operating company focuses on key areas which dynamically support the development of Dubai as a world-leading hub for commerce, leisure and finance.

Dubai Holding has created a strong foothold in various industries by developing pioneering initiatives spanning numerous sectors including healthcare, technology, finance, real estate, education, telecommunication, entertainment & leisure, energy, communication, industrial manufacturing, biotechnology, hospitality and aerospace.
 
Dubai Holding entities include: Dubai Internet City, Dubai Media City, Dubai Healthcare City, Dubailand, Dubai International Capital, Dubai Industrial City, Dubai Properties, Sama Dubai, Dubai Group, Dubai Energy, Dubai Knowledge Village, Dubai Outsource Zone, International Media Production Zone, e-Hosting Datafort, EMPOWER, Jumeirah Group, Dubiotech and Dubai Studio City.

For further information please visit www.dubaiholding.com or contact:

Maliha Aqeel
Account Manager, Finance Practice
Jiwin Public Relations
Tel: +9714 3613598
Mob: +97150 6331976
Email: maliha.aqeel@jiwin.ae