Big Yellow FZ LLC to Invest $15 million in the facility

DUBAI: 03 December, 2006 - The Big Yellow FZ LLC, a franchise of Big Yellow Group PLC, one of Europe's leading self-storage operators, today announced plans to build the world's largest purpose-built storage facility at the International Media Production Zone (iMPZ) in Dubai with total investments of $15 million.

To be managed and operated by Big Yellow FZ LLC, a franchise of UK-based Big Yellow Group PLC, the facility will comprise five buildings, offering a total storage space of 300,000 sq ft.  

The agreement to lease land for the facility in iMPZ was signed by Big Yellow FZ LLC Chairman, Ryan Cornelius and Executive Director of iMPZ, Hamad Huraiz, in the presence of James Gibson, Chief Executive Officer of Big Yellow.

Ryan Cornelius, Chairman, Big Yellow FZ said: "The key ingredient for success in the storage industry is location and service standards. We have secured the ideal location in iMPZ, and we are confident that our service standards will become the regional benchmark."

The landmark facility will provide round-the-clock storage for both personal and business use. Customers will be able to lease storage space upwards of 1 sq. m for any kind of goods.

State-of-the-art security offered by the Big Yellow Self Storage facility is a first in the regional market. Each unit will have an individual alarm system. All access points into the building will be monitored by CCTV, and have individual access-control key pads.

James Gibson, Chief Executive Officer of Big Yellow PLC said: "This will be the first Big Yellow Branded facility outside the UK. We see great potential for the growth of the Big Yellow brand in the GCC region, and we are looking at a phased expansion of our brand in the region over the next few years."

The facility will not only cater to the needs of companies in iMPZ but also the residential community in the zone and the neighbouring developments. Expected to be opened in early 2008, the storage facility is in its final design stages.

Hamad Huraiz, Executive Director of iMPZ said: "Our partnership with Big Yellow marks a milestone in the development of the iMPZ community.

"Storage is a critical requirement for our partners and our tie-up with Big Yellow enables us to extend a comprehensive infrastructure to both our business and residential communities. We look forward to a fruitful partnership with Big Yellow."

Three of the five storage buildings will be allocated for general commercial and residential self-storage. The fourth will be used for bulk short-term storage, and the fifth for bonded self storage purposes.

Storage units at the new facility can be leased on a daily, weekly, monthly or yearly basis at competitive rents. The rates will be structured to provide flexibility in meeting varying client needs. Big Yellow's well-trained staff will also offer packing advice, storage tips, free drop off or collection and packaging services.

To be built over 43 million sq ft in the heart of commercial Dubai, iMPZ will cater to the 3P industries - printing, publishing and packaging. It will form a unique free zone that incorporates industrial, commercial, and residential community

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About Big Yellow Self Storage Company
Big Yellow FZ LLC is a franchise company of Big Yellow Group PLC, the leading quality self-storage group in the UK. Big Yellow PLC has pioneered the development of the latest generation of self-storage facilities, which use state of the art technology and are located in high profile, convenient locations. Since its launch in 2000, Big Yellow expansion has been organic with 6 to 8 new stores added each year. Till date, the Big Yellow Group has acquired 58 stores of which 42 are now open. The group aims at expanding its portfolio to provide over 3.6 million sq. ft. of storage space. With market capitalization of over 600m on the London Stock Exchange, the Group's strategy is to continue to invest in quality assets at the premium end of the self storage market and expand its reach internationally.  

About the International Media Production Zone (iMPZ)
Dubai's International Media Production Zone (IMPZ) seeks to create a unique cluster environment for media production companies from across the industry value chain, and from across the world, to interact and collaborate effectively. Catering exclusively to companies in the 3P industries - Printing, Publishing and packaging. As a master developer, IMPZ will provide an environment of growth by building key facilities, investing in infrastructure, and forming a unique free zone that incorporates industrial, commercial, and residential and community service projects under its mantle. The complex will be housed on a territory of over 43 million square feet of land, in the heart of commercial Dubai. The IMPZ initiative is part of Dubai's vision to develop itself into a global media hub. As such, it will provide a pro-business environment, sophisticated technology and community infrastructure to support and foster the growth of media production. www.impz.ae

For further information, please contact:
Mohammed Abdelmonem
Account Manager
JIWIN PR,
Tel: +971 4 3613333
Dir: +971 4 361 3594
Fax: + 971 4 388001
Email: mohammed.abdelmonem@jiwin.ae

© Press Release 2006