ABU DHABI, Oct. 7th, 2008: Mubadala Development Company and the INSEAD Centre for Research and Executive Education in Abu Dhabi today announced the signing of an agreement to create the Mubadala Chair in Corporate Governance and Strategy.

This new Chair will act as a stimulus for INSEAD research and studies in corporate governance and strategic issues in the Middle East, as well as raising awareness about these topics in the region. A carefully selected academic with experience and expertise in this field will be appointed to the position and will play a leading role in setting the intellectual agenda and scope of research.

This agreement will also bring together the INSEAD faculty with Mubadala analysts, associates and managers, in order to improve knowledge and understanding as well as contributing to management education in the region.

Yesterday's signing ceremony, which took place as INSEAD celebrated its first anniversary in the Middle East, furthers the relationship between this world-renowned academic institution and one of the most prominent business development and investment companies in the region.

As Mubadala actively invests and creates new businesses in the region, we are conscious of the importance of good corporate governance and its impact on the development and diversification of Abu Dhabi's economy, said Khaldoon Khalifa Al Mubarak, CEO and Managing Director of Mubadala Development Company. We are delighted to create this Chair in partnership with such a world-class academic institution and look forward to our role in helping to further research and raise awareness in this field. Soumitra Dutta, the Roland Berger Chaired Professor in Business and Technology, Dean of External Relations, added: 'As a business school with two fully-fledged campuses and alliances with other top business schools, we consider the Abu Dhabi Centre as a key regional hub, which has enabled us to further expand our global knowledge and learning network in the region. Today's announcement of the Mubadala Chair of Corporate Governance further reinforces our commitment to advancing business education in the region and sends a highly positive message to the regional business community about the need to develop a better management understanding of these critical issues during these financially turbulent times.' Since its launch in September 2007, the Centre has attracted more than 500 executives from across the region to its open-enrolment and customised programmes. This October, 20 executives from The Department of Civil Service (DCS) will start an 18-month customised Masters of Entrepreneurial Leadership programme, developed to reflect the overall strategy and objectives of the Emirate. Also the first resident faculty member moves to Abu Dhabi, joining a team of full-time resident researchers. The Centre also plays host to INSEAD students from the Europe campus in France and the Asia campus in Singapore who regularly visit the Middle East as part of their modular work.

Mubadala Development Company (Mubadala) is a Public Joint Stock Company headquartered in Abu Dhabi, capital of the United Arab Emirates. Its focus is on developing and managing an extensive and economically diverse portfolio of commercial initiatives. It does this either independently or in partnership with leading international organizations. Mubadala's commercial strategy is fundamentally built on long term capital intensive investments that deliver strong financial returns.

The company manages a multi-billion dollar portfolio of local, regional, and international investments, projects and initiatives. Through its investment and development projects, Mubadala is both a catalyst for, and a reflection of, the drive for economic diversification of the Emirate of Abu Dhabi. Its impact is evident domestically and internationally in sectors such as energy, aerospace, real estate, healthcare, technology, infrastructure, and services.

Mubadala's sole shareholder is the Government of the Emirate of Abu Dhabi. For more information about Mubadala, its partnerships and activities please visit www.mubadala.ae About INSEAD, The Business School for the World As one of the world's leading and largest graduate business schools, INSEAD brings together people, cultures and ideas from around the world to change lives and transform organisations. This worldly perspective and cultural diversity are reflected in all aspects of our research and teaching.

With two campuses in Asia (Singapore) and Europe (France), a centre in Abu Dhabi and an office in New York, INSEAD extends the reach of its business education and research across three continents. Our 137 renowned faculty members from 32 countries inspire more than 1,000 degree participants in our MBA, Executive MBA and PhD programmes. In addition, more than 9,500 executives participate in INSEAD's executive education programmes. With the INSEAD-Wharton Alliance, we deliver MBA and co-branded executive education programmes on Wharton's U.S. campuses in Philadelphia and San Francisco, as well as on our campuses in Asia and Europe. And our thought leadership platform INSEAD Knowledge (www.insead.edu/knowledge ) features articles and podcasts (audio and video) showcasing the school's leading-edge research.

Today's organisations need leaders with the knowledge and sensitivity to operate anywhere in the world. This is why business turns to INSEAD - to develop the next generation of transcultural leaders.

Copyright Emirates News Agency (WAM) 2008.