Dubai, 30^th May 2007:- Global ports owner and operator DP WorldDP World has welcomed today's news from the UK Government that it has decided to grant approval for the company's London Gateway development on the River Thames at Essex. The initiative will see the regeneration of the 1,500 acre former oil refinery site at Shell Haven, creating a world class UK infrastructure asset and delivering approximately 14,000 new jobs.

Commenting on the news, Sultan Ahmed Bin Sulayem, Chairman DP WorldDP World, said: "This is important news and we are very pleased with the UK Government's decision. DP WorldDP World is planning to invest approximately £1.5bn to develop London Gateway over a 10 to 15 year timeframe. This is the single biggest investment project for DP WorldDP World. It represents our long-term commitment to bringing benefits and value to our customers and to the UK economy."

After several years of detailed government consideration due to the size and complexity of the proposal, the decision was announced today by the Transport Minister, Gillian Merron. It is a major milestone in bringing DP WorldDP World's proposals closer to reality. Detailed environmental assessments were a significant part of the company's proposal to Government to ensure that both construction and operation of London Gateway reflect the land and marine habitats in which the development is taking place.

London Gateway will combine a major deep-water port capable of handling the biggest container ships at superior levels of efficiency and meet the UK Government's identified need for increased deep-sea port capacity. The combined entity will be unique in the UK, providing a world class gateway for the 21^st century ensuring that the UK remains competitive in global shipping markets and has the facilities to attract and retain trade from the world's leading businesses. The adjacent logistics/business park, one of Europe's largest, will provide unique supply chain opportunities with integrated road, rail and sea connections with close proximity to major UK markets.

Mohammed Sharaf, CEO DP WorldDP World, said: "London Gateway is one of the most significant infrastructure development programmes in the UK. It will play a major role in supporting international trade and deliver a substantial contribution to the UK economy. We will now be analysing the Government's decision letters in more detail, so that we can press ahead and work towards construction. DP WorldDP World is a global leader in developing facilities of this size and scale and we believe our experience will be a major contributing factor to the success of London Gateway. We are looking forward to delivering the benefits to our customers, to UK businesses, and to the local community as swiftly as possible."

Construction is planned to begin later this year, with DP WorldDP World aiming to have first occupiers on the park within 12-18 months, with the port operational from 2010. The development will be a major catalyst for delivering jobs, new homes and new opportunities in this identified growth region, thereby contributing significantly to the UK Government's Thames Gateway regeneration programme.

Simon Moore, Chief Executive of London Gateway, added: "This is great news. I would like to thank the large number of people and organisations who have supported us as we have developed our proposals. There is still much work to be done, and I look forward to the continued co-operation and support at local and national level so that we can move towards construction as soon as possible."

DP WorldDP World took on the development of the London Gateway projects with its acquisition of P&O in March 2006.

London Gateway Port will be built on part of the site of the former Shell Haven oil refinery in Thurrock, Essex. Land will also be reclaimed from the Thames estuary to help form the port. DP WorldDP World and Shell are collaborating to develop a major Logistics and Business Park on a separate part of the site. Together, the two schemes are expected to create up to 14,000 new jobs and help drive forward the Thames Gateway regeneration initiative in Thurrock. The proposals anticipate that the first container berths will be operational by 2010 and the first business units occupied within 12-18 months.

Key facts about the development

• Shell Haven is a 607 hectare (1,500 acre) brownfield site with a two mile River Thames frontage.

• It is located in Thurrock at the heart of the Government's Thames Gateway regeneration area.

• The site has been used as a port since the 16^th century.

• Since the oil refinery ceased production in 1999, Shell has embarked on a £50 million clearance of the site - one of the largest brownfield site preparation programmes in Europe.

• With a 2 mile (3km) river frontage, excellent road and rail links, and a location close to London and the UK's south east market, London Gateway is ideally located for port use. It is estimated that the final destination of a quarter of the containers currently imported into the UK is within a 25 mile (40km) radius of Shell Haven.

• It already has a direct dual carriageway link to London and the M25 motorway network and a rail connection to the UK rail network.

• As well as returning a former oil refinery site to productive commercial use, DP WorldDP World is committed to ensuring that it develops London Gateway in sympathy with the local environment and to be as sustainable as possible. Just 25 miles from London, the fact of delivering goods closer to their end markets in the capital and South East will help reduce road miles for onward transportation. London Gateway will also provide capacity for 30 per cent of its goods to travel by rail.

London Gateway Port

• The proposed London Gateway Port will be a world class port capable of handling the largest deep-sea container ships.

• DP WorldDP World's proposals include a 2,300 metre long container quay with a fully-developed capacity of 3.5 million TEU (standard container units) a year.

• The port is located on the major shipping lanes serving north west Europe

• London Gateway Port is being developed on a brownfield site in accordance with Government objectives. It will contribute to the further rejuvenation of the Thames as a working river.

Logistics and Business Park

London Gateway Park is a Joint Venture between Shell and DP WorldDP World and will cover a development area of 300 hectares (700 acres). It will provide a sustainable, integrated solution for the changing requirements of the distribution, manufacturing and high-tech sectors.

The Park can accommodate buildings in excess of 100,000 sq m and offers linkage to the rail network. High quality architecture and high levels of security will be key features of the park. Extensive landscaping on the site, including a protected 'habitat' zone around the Park will create an attractive environment for occupiers.

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For further information contact:
Ben Copithorne / Chris White
Camargue
Tel: 020 76367366
E-mail: bcopithorne@camarguepr.com / cwhite@camarguepr.com

© Press Release 2007