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Boulder Steel of Australia lists shares on DIFX

Dubai, May 15th, 2007 (WAM) -- Boulder Steel Ltd., headquartered inSydney, Australia, on Monday listed its ordinary shares on the Dubai International Financial Exchange (DIFX). The company's market capitalization is USD 150 million, and it is primarily listed on the AustralianStock Exchange (ASX). It is also listed on the Frankfurt, Berlin/Bremen,Stuttgart and Munich stock exchanges in Germany.

The DIFX will offer trading of the same pool of Boulder Steel sharesas the ASX does through a settlement link created by Computershare, theworld's largest share registry company.

"As the region's foremost international exchange, DIFX is the ideal marketfor us to attract investors from across the Middle East. The exchange'sclose links to retail and wholesale brokers make it an excellent platformfor Boulder Steel, as we continue to expand our business", confirms CarlMoser, Director and General Manager of Boulder Steel.

"DIFX offers Boulder Steel high visibility and an increasingly liquidmarketplace through its expanding connections with investors, includingthe Computershare link. The exchange looks forward to more listings inthe coming months of prominent regional and international companies",adds Per E. Larsson, Chief Executive of DIFX.

Boulder Steel's products include seamless steel tubes and motor vehiclecomponents. A seamless tube finishing line with a capacity of 250,000tonnes per year is set to be built in the Hamriyah Free Zone in Sharjah,UAE.

The National Investor (TNI), a leading regional investment bank, has beenmandated by Boulder Steel to act as its financial advisor and lead managerin relation to Boulder Steel's proposed seamless tube project.

"The Hamriyah plant is strategically positioned to become a preferredsupplier of seamless tubes for companies in the Oil & Gas industry throughoutthe Gulf region," confirms Abdul Rahman Falaknaz, Director of BoulderSteel UAE.

"Many of the international companies that are interested in listing onDIFX already have a business presence in the region, which makes themattractive to regional investors. Equally, regional companies that liston the DIFX know that it is an effective means of accessing internationalas well as regional investment," reasserts Hamed Ali, Executive Officerof DIFX. "With Boulder Steel, DIFX now has nine equity listings, includingboth depositary receipts and ordinary shares."