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May 29, 2008 DP World AGM Dubai - DP World Limited today held its Annual General Meeting (AGM) in relation to the full year 2007 – its first as a publicly listed company.  

Chairman Sultan Ahmed Bin Sulayem underlined the strength of the company, saying:

“Our share price performance has been disappointing; global financial markets have been very volatile and as a global company, we are impacted as are other global companies when markets fall. However, we believe that our 2007 financial results, reporting an outstanding profit growth of 52%, which is way ahead of market expectations, shows that we are a strong business.”

CEO Mohammed Sharaf gave the following trading update:

“As reported on the 7th April 2008, 2007 was a year of a great many achievements for DP World.  The company continued to deliver sustainable growth with volumes growing 18% to 43.3 m TEU, revenue growth in excess of 30% and EBITDA and profit growth in excess of 50%.  These excellent results were driven by DP World’s well positioned global portfolio which benefits from the strong Asia to European trade routes and the growth of container cargo in the faster growing economies of the emerging markets.  

“As reported earlier this month, trading in the first quarter of 2008 has been strong with throughput well ahead of the same period last year.  Despite economic growth across a number of global markets remaining uncertain, we believe we are well placed to deliver good results this year.”

The ten resolutions put to the AGM were passed.  Details will be available in the Investor Centre section of the DP World website www.dpworld.com and on the Dubai International Financial Exchange (DIFX) within 24 hours.