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Strategic partnership formed with Malaysia's GBD Investment Limited.

Dubai Group, the leading diversified financial services company of Dubai Holding, announced today that it has invested US $49.5 million (AED 180 million) for approximately 30% of Malaysia's GBD Investment Limited ("GBDI"), the largest biodiesel plant in the South East Asian region. The investment was made by Dubai Ventures, the equity investment company of Dubai Investment Group, a subsidiary of Dubai Group.

GBDI has completed construction and commenced production of its 200,000 metric ton (MT) biodiesel facility at Lahad Datu in the state of Sabah, Malaysia. The company is preparing to commence construction on its phase II facility, which will increase GBDI's biodiesel production capacity to 500,000 MT per annum. GBD's plant has the ability to use both palm oil and jatropha as feedstock.

GBDI's state-of-the-art facility will produce biodiesel and pharma-grade glycerine under the European Union (EN) and American (ASTM) standards for the Korean as well as global markets. GBD has already signed off-take agreements for all of its production.

Abdulhakeem Kamkar, Chief Executive Officer of Dubai Investment Group, said, "We are proud to be a strategic partner of GBD Investment. Biofuels and renewable energy are preferred industry focus for Dubai Investment Group, and we intend to bring this technology to the geographic regions, specially Middle East, where we currently have a presence."

Dr. Hwang Jong Sic, Chairman of GBD Investments said, "We are greatly honoured to welcome into our family of investors, the Dubai Investment Group, an esteemed investor  who acknowledges the field of "green" energy and is one of the first movers from the Middle East into biofuels technology."

GBDI intends to use the proceeds from the recent placement for working capital in the Lahad Datu biodiesel plant and its investment into jatropha plantations in Philippines. The plantation, which will cover up to 200,000 hectares, will have a potential annual production of 750,000 tonnes of crude jatropha oil.

Dr. Hwang further added, "With the mandatory blending of biodiesel into petrodiesel imposed by the governments from around the world, GBDI maintains a bullish outlook on the long term viability of the biodiesel market."

Dubai Investment Group is the global financial investor of Dubai Group. It focuses its investments in the capital markets, real estate and industrial sectors of the world's most promising economies. Dubai Ventures is the equity investment arm of Dubai Investment Group focussing on investments, public and private, in high growth businesses across globe.

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About Dubai Group www.dubaigroup.com

Dubai Group is the leading diversified financial services company of Dubai Holding. Focused on banking, investments and insurance regionally and globally, Dubai Group has offices in Dubai, London, New York, Pittsburgh, Kuala Lumpur and Hong Kong.

Through its subsidiaries and affiliates, Dubai Group has business interests in 26 countries that employ 16,000 individuals. Run by high-calibre industry veterans with proven track records, Dubai Group entities include Dubai Investment Group, Dubai Capital Group, Dubai Financial Group, Dubai Islamic Investment Group, Dubai Insurance Group and Noor Investment Group. Dubai Group plays a pivotal role for the realisation of Dubai Strategic Plan by leading the development of financial industry.

Dubai Investment Group

Dubai Investment Group (DIG) is the global financial investor of Dubai Group with subsidiaries Dubai Ventures, DIG Real Estate & Hospitality and Dubai Industrial. The Group focuses on managing a diversified portfolio of public and private investments.

It creates and maintains solid earnings through the acquisition of profitable operating companies. DIG's investment portfolio includes Bharat Hotels, Tunisie Telecom, Sing Holdings, Sun Hung Kai Financial, and Essex House Hotel.

About GBD Investment Limited

GBD Investment Limited is owner and operator of one of the region's largest biodiesel plants with production capacity of up to 500,000 MT per annum. Its facilities are situated at the POIC (Palm Oil Industrial Cluster, an economic zone initiative by the Government of Malaysia) of Lahad Datu, Sabah State in East Malaysia.

The plant is strategically located next to deep-sea water ports and all essential infrastructures for efficient feedstock and biodiesel and pharma-grade glycerine processing and shipping to the global markets.

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