24 August 2008 DUBAI - Allen & Overy said that it has advised 13 mandated lead arrangers (MLAs) to raise USD5.6 billion for Investment Corporation of Dubai&('ICD'& - the investment arm of the Government of Dubai). This includes the signing of a USD3.6 billion conventional facility, a USD1.5 billion murabaha facility and a USD500 million co-ownership facility - marking the debut bank financing for ICD. The transaction signifies the growing trend of utilising both conventional and Islamic tranches for debt financings in the Middle East region.

The MLAs on the conventional facility included Barclays Capital, Citibank N.A., Deutsche Bank AG, Emirates Bank International PJSC, HSBC Middle East, J.P. Morgan Plc, Mashreqbank PSC, Morgan Stanley Bank International Limited, The Royal Bank of Scotland plc and UBS Limited while Dubai Bank, Noor Islamic Bank PJSC and Standard Chartered Bank were the MLAs which had arranged the murabaha facility.

Allen & Overy banking consultant Shehzaad Sacranie ed: "Once again the market has shown tremendous confidence in Dubai.& It is a significant achievement for the Investment Corporation of Dubai to have raised facilities of this size given current market conditions."

Allen & Overy banking senior associate Amar Meher added:& "The deal represents the increasing trend of deals being structured with conventional and Islamic tranches.& In particular, it showcases the potential of Islamic institutions to help address the liquidity gap in the current market conditions."

The Allen & Overy team on the conventional facility was led by Dubai-based partner Bimal Desai, assisted by consultant Shehzaad Sacranie while the murabaha facility was led by Dubai-based partner Anzal Mohammed assisted by senior associate Amar Meher.

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In this press release "Allen & Overy" means "Allen & Overy LLP" and/or its affiliated undertakings.

Any reference to a 'partner' means a member of Allen & Overy LLP or an employee of or consultant to Allen & Overy LLP who has equivalent standing and qualifications, or a member, shareholder, partner of or consultant to an affiliated undertaking who has equivalent standing and qualifications. Allen & Overy LLP is a limited liability partnership registered in England and Wales with registered number OC306763. It is regulated by the Solicitors Regulation Authority of England and Wales. Allen & Overy LLP is a multi-jurisdictional legal practice with lawyers admitted to practice in a variety of jurisdictions. The term partner is used to refer to a member of Allen & Overy LLP or an employee or consultant with equivalent standing and qualifications. A list of the members of Allen & Overy LLP and of the non-members who are designated as partners is open to inspection at its registered office, One Bishops Square, London, E1 6AD and at the above address. For further information about how Allen & Overy LLP is regulated, please see our website at www.allenovery.com/regulatory For further information please contact Shehzaad Sacranie, shehzaad.sacranie@allenovery.com, on +966 (0)1 460 0066, & Amar Meher, amar.meher@allenovery.com, +971 (0)4 426 7117 or Mia Moore mia.moore@allenovery.com, +971 (0)4 426 7166. Allen & Overy LLP, Dubai Office, PO Box 506678, Dubai UAE Suite 101/202, Level 1 & 2, The Gate Village Building GV08, Dubai International Financial Centre, Dubai, United Arab Emirates Tel:+971 (0)4 426 7100 Fax:+971 (0)4 426 7199 www.allenovery.com

© Press Release 2008 from Allen & Overy & omar 1.1:zy