Dubai, June 5th,2007 (WAM) - Global marine terminal operator DP Worldtoday announced the Port of Dakar, Senegal, has awarded it the concessionto develop and operate the existing container terminal at Dakar, Terminal? Conteneur, and invest in a new container terminal at the port, Portdu Futur.

Under the agreement, expected to be signed within the coming weeks, DPWorld will invest more than ?100 million (US$134 million) in developingcivil infrastructure and equipment in the current terminal. The firstphase of this development will be operational by the beginning of 2008and complete by 2010. The development programme will turn the port ofDakar into a world class common user terminal with high quality servicesfor current and future customers.

The work will more than double the capacity of the existing Terminal ?Conteneur from 250,000 TEUs (twenty foot equivalent container units) toaround 550,000 TEUs. The Port Authority is developing an extra 300 metresof quay wall and 7 hectares of yard, bringing the new total combined berthlength to 730 metres with 22 hectares of yard area.

The second phase of the project will be to design, finance, constructand manage the new container terminal, Port du Futur, which will havepotential capacity of 1.5 million TEUs. Port du Futur is expected to beoperational by early 2011 and will require an overall investment of over?300 million (over US$400 million).

In addition to delivering world class operating standards to the Dakarcontainer terminal, DP World is also contributing to the local community,as it does in other parts of the world, by creating new jobs, new housingfor employees at the port and establishing a DP World Foundation to makeadditional investments into local community projects.

This concession for port development follows an MoU between the Governmentof Senegal and Jafza International, sister company of DP World, signedin December 2006, for developing an integrated Special Economic Zone (SEZ)in Dakar. The final agreement to develop the SEZ is expected to be finalizedsoon. Jafza International, acting as a consultant to the Government ofSenegal, has been instrumental in the drafting of the legal framework,recently passed by the Senegal Parliament, required to facilitate thecreation of the SEZ.

Dubai World, DP World's parent, is also looking at investments in thisfast developing and forward looking West African country, the second largesteconomy in the region.

Sultan Ahmed Bin Sulayem, Dubai World Chairman, said, "There is potentialfor development of a free zone affiliated to the new port at Dakar andwe also see considerable potential for tourism in Senegal with its beautifulcoastline and extensive national parks. We are looking at investing inhotels and other recreation facilities there."Jamal Majid Bin Thaniah, Group CEO of Ports & Free Zones World (P&FZ World)commented, "Senegal is undergoing substantial investment in its infrastructureand it also provides excellent access to landlocked Saharan African countries.

Our experience is that economies grow as efficient infrastructure comeson line, which benefits both the local economy and our business.

"Cargo will play a major role in the transportation industry on the AfricanWest Coast. The shipping industry will be witness to this area's developmentinto a state of the art cargo and container handling facility, and tothe birth of a totally new service dynamic. This will be complementedby the creation of an industrial logistics and business park in the formof a free economic zone, managed by Jafza International, currently beingnegotiated, that will have a driving impact on the flow of cargo intoDakar and neighbouring countries on the African West Coast." Mohammed Sharaf, DP World CEO said, "We are pleased to have won this importantconcession. Senegal's stability has enabled it to become one of the mostprogressive West African countries which, in turn has brought direct foreigninvestment and growth in trade. In addition to its strong local economy,Senegal is an important transit gateway to West Africa, and is strategicallylocated at the crossroads of several major trade lanes."