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Qatar Railways Company Plans Next Steps

· Executive committee formed and Abdulla Al-Subaie appointed Managing Director of Qatar Railways Company

· Al Saad: "Our meeting today is a big step toward putting the Qatar Railways Company into operation and moving forward with the work ahead of us."

· Al Subaie: "We are committed to achieving the highest international standards in creating this signature project in national development."

12 March 2011 (Doha, Qatar) - QATARI DIAR Real Estate Investment Company , an international leader in sustainable development, hosted today the first Board of Directors meeting for the Qatar Railways Company, a subsidiary of the QATARI DIAR Group dedicated to developing Qatar's rail industry. The meeting follows last week's formation of the Qatar Railways Company Board of Directors and represents a step forward for the company's visionary project to create Qatar's first integrated national railway network.

Under the leadership of His Excellency Ghanim bin Saad Al-Saad, Chairman of the Qatar Railways Company Board of Directors and Managing Director of QATARI DIAR, and full attendance by the Qatar Railways Company Board of Directors, the meeting was called to discuss the establishment and formation of the newly-formed company. Al-Saad initiated the meeting by welcoming those present and discussing the company's activities and its mission, inspired by the vision of His Highness the Emir, Sheikh Hamad bin Khalifa Al Thani, for developing and advancing the country's rail industry in line with the Qatar National Vision 2030 for comprehensive national development.

A number of important issues were covered in the meeting agenda, including:

· Rail projects and their current development status

· The capital budget and cash flow for the Qatar Railways Company

· Review of the project's operating budget.

The meeting also addressed the company's regulatory affairs and matters related to the State's interest. The following resolutions resulted from today's discussion:

1. The appointment of Eng. Abdulla Abdulaziz Turki Al-Subaie as the Managing Director of the Qatar Railways Company Board of Directors.

2. The formation of the Qatar Railways Company Executive Committee.

H.E. Ghanim bin Saad Al-Saad, Chairman of the Qatar Railways Company Board of Directors and Managing Director of QATARI DIAR, commented, "Our meeting today is a big step toward putting the Qatar Railways Company into operation and moving forward with the work ahead of us as we build for the future of Qatar, under the wise leadership of His Highness the Emir of Qatar and the 2030 National Vision."

"In its dedication to developing Qatar's rail industry and serving the country's various sectors, Qatar Railways Company will support the national economy in every one of its projects, while also offering employment opportunities to Qatar's future generations," added Al-Saad.

Eng. Abdulla Al-Subaie, Managing Director of the Qatar Railways Company, also commented, "We are proud to be entrusted with developing one of the largest and most progressive rail networks in the Middle East, and as such we at Qatar Railways Company are committed to achieving the highest international standards in creating this signature project in national development that will become an international legacy for Qatar for generations to come."

Qatar Railways Company, a private and independent company, was founded to support and coordinate the growth of Qatar's rail industry. In addition to securing the resources, personnel and organizational requirements necessary to ensure the rail sector's sustainability, the Qatar Railways Company will also develop the appropriate legal and legislative frameworks to ensure that all local and international regulations are met. As Qatar's premier railway authority, the Qatar Railways Company will oversee the management, operation and maintenance of all local railways and lead coordination efforts with regional and international rail networks.

In creating Qatar's much-anticipated state-of-the-art integrated railway network, the Qatar Railways Company will manage the development of the West Bay People Mover, Lusail City's Light-Rail Transit system, and the integrated Qatar Railways Project, which will incorporate a metro system, long-distance passenger travel, and freight transport.

In November 2009, QATARI DIAR and Deutsche Bahn AG signed a joint venture to establish the Qatar Railways Development Company (QRDC) under the administration of the Qatar Railways Company, wholly owned by QATARI DIAR. Connecting Qatar's network to neighboring countries, QRDC will create the region's most comfortable, reliable, and safe railway system for transporting residents, visitors and cargo throughout Doha and beyond.

-Ends-

For further information, kindly contact:
Khaled Ramadan
Tel: +974 6655 7667
Email: khaledr@brownlloydjames.com

© Press Release 2011