Dubai, April 15th, 2006 (WAM) - Emirates Building Systems (EBS),a subsidiary of Dubai Investments Industries, has announced thesigning of a joint venture agreement with China Jingye ConstructionEngineering Contract Company (CJYC) for the construction of highrise buildings, stadiums and aircraft hangars in the Middle Eastand North Africa region.

"This joint venture agreement marks the beginning of a mutuallybeneficial relationship which will result in the constructionof several world class structures across the region," said ShukriAl Muhairi, General Manager, Dubai Investments Industries,one of Dubai Investments' subsidiaries.

"The combined expertise of EBS and CJYC will translate to highquality projects and set new benchmarks in construction of highrise buildings and other mega structures. This partnership willalso open new opportunities for us in the Middle East and Africanmarkets."Samir Akra, General Manager, Emirates Building Systems, said,"As per the terms of the contract, EBS will design and fabricateall components required for the construction of high rise buildings,stadiums and aircraft hangars, whereas CJYC will supply manpower,know-how and required tools and supplies to construct the componentsin accordance with the requirements of EBS."EBS and CJYC will work together throughout the contractual periodof three years, and will cover United Arab Emirates, Sultanateof Oman, Kuwait, Saudi Arabia, Qatar, Bahrain, Iraq, Jordan,Syria, Lebanon, Turkey, Egypt, Libya, Morocco, Sudan, Iran, Yemen,Tunisia and Algeria.

Lu Yijie, Vice President of China Jingye Construction EngineeringContract Company, said, "EBS's strengths in fabrication and designand our expertise and qualified personnel will be a real asset,and we are committed to passing on the benefits of this allianceto our customers in the region. We look forward to a long andrewarding partnership with EBS and together we hope to fullytap the regional market potential."The first project that the joint venture will cooperate on isthe 'Kuwait World Trade Center', a prestigious 48-storey towerlocated on Sour street, Kuwait city. This tower will have a builtup area of 23,400 square meters and will be 218 meters in height.

Owned by 'The Commercial Real Estate Company', tower will featuresome of the most innovative architecture in the region.