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Durrat Al Bahrain signs agreement with Jawad Group to supply convenience stores

Durrat Resort Management to Manage Convenience Stores Across Resort City

Manama, Kingdom of Bahrain - 30 July 2008 - Durrat Al Bahrain, the Kingdom's largest planned luxury mixed-use residential, commercial and resort development, today announced it has signed an agreement with Jawad Group , Bahrain's leading supermarket and convenience store operator, to supply convenience stores across the island city resort.

The contract will be managed by Durrat Resort Management, Durrat Al Bahrain's newly formed subsidiary created to deliver a global standard in community development and management.

Jawad Group will initially supply two mid-sized, 24 hour convenience stores on two of Durrat Al Bahrain's residential islands, which will be open and ready for business when the first phase of villas are delivered to homeowners in November. In addition to the convenience stores, Jawad will also supply a Costa Coffee on one of the islands.

Jassim Al Jowder, CEO of Durrat Al Bahrain, said, "We have always been very clear that we are creating more than a development. Durrat Al Bahrain is a city of the future and a city needs to have the right facilities to create an environment where communities will freely develop. Our agreement with Jawad Group illustrates the level of quality and the kind of day to day amenities we are seeking to bring to Durrat Al Bahrain for our residents to enjoy."

Julian Butson, Resort City Manager - Durrat Al Bahrain for Olive-vfm, added, "Today's announcement is a first step in delivering Durrat Resort Management's mandate, which is to create sustainable community facilities that will support the development of informal and formal groups across the Durrat Al Bahrain community. By having Jawad Group supply our convenience stores for the first phase of homeowners, we are not only ensuring that residents will have easy access to their every day needs, but, we are also creating community focal points in their own right. The addition of a Costa Coffee outlet from Jawad will also be important in offering a range of community facilities for residents."

Mr Faisal Jawad, Chairman and CEO, Jawad Business Group , commented, "We're very excited to be working with Durrat Resort Management. We have been impressed with the ambition of the team - it's very clear to us that we are responsible for delivering more than market leading convenience stores. Durrat Resort Management wants us to play our part in helping to develop what will become the Durrat Al Bahrain community and we are delighted to be involved in this process."

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About Durrat Al Bahrain
Durrat Al Bahrain is owned by the Durrat Khaleej Al Bahrain Company, in which the Government of the Kingdom of Bahrain and Kuwait Finance House - Bahrain each hold a 50 percent stake. Durrat Al Bahrain, a 21 km?² area of pristine waters and untouched beaches, once complete, is expected to be approximately the size of Manama, Bahrain's capital city.

Durrat Al Bahrain has been planned as a world-class residential, commercial and tourist destination, offering a unique island based urban lifestyle. It is where the buzz of a world-class city meets the beauty and tranquillity of an island. Upon completion by 2015 it is expected that there will be more than 60,000 permanent residents as well as some 4,500 visitors a day.

The master planner/architect of the project is Atkins, the renowned engineering design and consultancy; project/development manager is KMC Bovis, a joint venture between the Kuwaiti Manager Company and Bovis Lend Lease and HAJ is the quantity surveyor for the development.

About Durrat Resort Management
Created in November 2007, Durrat Resort Management was established to create the policies, systems and procedures that will manage the operational requirements of the $6 billion Durrat Al Bahrain project.

Media Contact:
Nabeela Mohammed
Financial Dynamics
Tel: 17 537 072

© Press Release 2008