Dubai, Aug.5,2007(WAM)--The Investment Corporation of Dubai(ICD) announced here today the appointment of Khaled Nasser Lootah andAhmad Bin Hassan Al Shaikh to the board of Dubai Cable Company (Ducab).

The announcement was made by Mohammed Al Shaibani, Executive Directorand CEO of ICD, on the directives of H.H Sheikh Mohammed bin Rashid AlMaktoum, Vice-President , Prime Minister, Ruler of Dubai and ChairmanICD.

Ducab, the largest manufacturer of high-quality power cables in the MiddleEast, is part of the ICD portfolio, which comprises all wholly or partly-ownedgovernment businesses in the emirate. Established in May 2006, ICD hasbeen mandated to play a leading role in driving the future prosperityof Dubai's investment portfolio and generating a superior return on investmentsin a way that will benefit the entire UAE community.

Mohammed Al Shaibani said: "The appointment of Khaled Nasser Lootahand Ahmad Bin Hassan Al Shaikh on the board of Ducab are a reflectionof His Highness' vision to equip UAE nationals with the knowledge andskills to spearhead a changing economy and creating a society which canshare the responsibilities and challenges that come with economic development."He added: "With their extensive knowledge across various sectors, we areconfident that Khaled and Ahmad will play pivotal roles in driving Ducab'sgrowth initiatives in consistency with its strategic plan and complementthe company's strong board and management team."Khaled Lootah, who currently manages his own engineering consultancy firm,was earlier associated with Dubai Electricity and Water Authority (DEWA)in senior capacities. As Executive Vice-President for Projects and Engineeringat DEWA, Khaled was responsible for all expansion projects undertakenby the Authority in the fields of power and water generation, transmissionand distribution and other civil projects.

Ahmad Al Shaikh, who is the Managing Director of Hassan Bin Al ShaikhGroup of Industries, has been actively associated with various sectorsover the last two decades. A natural leader with inherent leadership qualitiesand innovative ideas, Ahmad Al Shaikh also sits on the boards of variouscompanies and councils.

Ducab, an ISO 9001:2000 certified company, is jointly owned by the governmentsof Dubai and Abu Dhabi (50% each). As on date, Ducab produces over 65,000cubic copper tonnes equivalent of low and medium voltage cables, emergingas the leader and the first choice of prestigious customers in the MiddleEast.

The Investment Corporation of Dubai (ICD) was established in May 2006,following the transfer of Dubai Government's portfolio of investmentsfrom the Department of Finance's Investment Division. ICD's role is tosupervise the Government's investment portfolio, adding value throughthe implementation of world best-practice corporate governance, recruitmentof best people and embracing of a global investment strategy.

Its portfolio comprises all wholly or partly-owned government businessesin Dubai, including Emirates Airline, DP World, Dubai Aluminum, EmiratesBank, National Bank of Dubai, Dubai Financial Market, ENOC, Shuaa Capitaland Dubai Islamic Bank, Emaar, Dubai World Trade Centre and Jebel AliFree Zone amongst many others.