Begins series of workshops aimed at presenting Board of Directors' with the latest trends in corporate governance

Dubai, UAE, 29 March 2011: du organised a workshop as part of its commitment to strengthening its corporate governance philosophy, by focusing on the development and enhancing the effectiveness of its board of directors. The workshop was presented by corporate governance experts from DLA Piper, a leading full service business law firm, including Duncan Wiggetts, Partner DLA Piper and Murad Abida, Head of Corporate Middle East, DLA Piper.  The initiative is part of du's efforts to continuously improve and fine tune its pillars of corporate governance - Accountability, Fairness, Transparency and Responsibility.

The workshop was opened by Dr. Nasser Saidi, Executive Director, Hawkamah in the presence of H.E. Maryam Al-Suwaidi, Deputy CEO for Legal Affairs, Issuance and Research, The Emirates Securities and Commodities Authority (SCA), Ahmad bin Byat, Chairman, du, members of the Board of Directors, Osman Sultan, CEO, du and the executive management team.

The internationally renowned workshop which also featured Karl Tabbakh, Partner DLA Piper, examined the legal framework of Corporate Governance and directors' duties and liabilities in the UAE. It also covered a variety of interactive sessions on the Fundamentals of Corporate Governance, Risk and Crisis management, Transparency and Disclosure and Shareholder Rights.

Ahmad Bin Byat, Chairman, du, said: "We are committed to implementing the best corporate governance practices. These workshops give us an opportunity to discuss   industry best practices that we as an organisation can implement, going forward. I am thankful to all the attendees for their contribution in making this effort a success."

Dr. Nasser Saidi, Executive Director, Hawkamah Institute for Corporate Governance said:  "Various Hawkamah studies over the recent years have indicated that du is among the top ranking UAE companies in terms of their corporate governance and disclosure practices, and these workshops demonstrate du's continued commitment to good corporate governance. For any corporate governance framework to be effective, the Board's engagement, commitment and knowledge are crucial. Hawkamah is proud to be supporting du's initiatives to abide by international best practices and thereby set an example to the region's companies." 

The event featured an exclusive screening of the new DLA Piper film "Counting the Cost", with a commentary provided on issues highlighted in the film by an impressive panel of speakers.

"As the Middle East continues to develop, it is important that companies across the region focus more attention on corporate governance to ensure guidelines and regulations are in place to protect companies and shareholders. Companies such as du can be seen as an example of how international best practice can be implemented on a practical level and we're delighted to be working with a board that places corporate governance so high up the agenda." Murad Abida, Head of Corporate Middle East, DLA Piper.

The workshop comes as du releases the second edition of its annual corporate governance report 2010 by the end of March. The first was published in 2009, at a time when such reports were just a voluntary requirement by SCA, showcasing the company's pro-activeness in promoting corporate governance within the UAE and the region. Initiatives such as this placed du fifth in the in the S&P/Hawkamah Environmental, Social and Corporate Governance (ESG) Index, which covers 11 countries in the Middle East and North Africa region. The Index evaluated several of du's impressive ventures undertaken throughout the years showcasing the company's commitment to corporate governance.

du has dedicated a section on Corporate Governance on its site*, leading the way in showcasing transparency in the region. The site carries extensive information on du's board members and its committees including the committee's charters and details about annual general meetings. It also showcases the various policies in place to promote good corporate governance such as the Share Dealing Policy and the Whistle Blowing Policy. Additionally, in the interest of enhancing and improving the company's corporate discipline knowledge and skills, the management has been directed by du's chairman to systematically update the board on all industry trends and developments that touch upon the telecommunications industry.

-Ends-

S&P/Hawkamah ESG Pan Arab Index
In response to investor demand for an ESG (environmental, social and corporate governance) index tracking the Pan Arab region, Hawkamah and Standard & Poor's have jointly created the S&P/Hawkamah ESG Pan Arab Index, the first of its kind in the region. The S&P/Hawkamah ESG Pan Arab Index is designed to track the performance of companies that have demonstrated superiority in the areas of environmental, social and corporate governance responsibility relative to other companies in that region. The index constituents are selected from a universe of the top 150 Pan Arab companies (based on total market capitalization) listed on the national exchanges of 11 MENA countries, subject to a liquidity screen. The index is comprised of the 50 highest-scoring stocks, according to their composite ESG scores from the selection universe.

*du corporate governance
du has strict corporate governance guidelines and code of ethics highlighted on its corporate governance website demonstrating its dedication to transparency.

For more information please visit: http://www.du.ae/en/about/corporate-governance/corporate-governance-resources

About du
du, the integrated telecom service provider in the UAE, launched mobile telecommunication services in February 2007 across the UAE, in addition to internet and pay TV services that du provides in some of the free zones of Dubai. Call Select, du's nationwide fixed line services for voice telephony, was launched in July 2007. By the end of 3rd quarter of 2010, over 4 million people in the UAE had chosen to become du mobile customers.

Among du's many firsts is its historic Number Booking Campaign for both individuals and business, Pay by the Second billing system, Mobile TV, Mobile Payments, first of its kind 'WoW' recharge card (which offers customers the choice between 'more credit', 'more time' and now the 'more international' recharge option with additional credit on international calls) and Self Care.

For business customers, du business offers include Closed Business User Group and preferred International Destinations. du Broadcast Services division brings scalable media technology platforms and telecommunication solutions to the broadcast community through its world-class teleport (Samacom) and Master Control Room (MCR) facilities.

du products and services for consumers and business are available through du's retail network, currently numbering 37 du shops located in strategic locations across the UAE, including the recently opened flagship store located in the heart of Abu Dhabi. In addition, customers

can access du products and services at more than 3000 authorised dealers or through the du e-shop, accessible at http://shop.du.ae du shops are a one-stop-shop for mobile service, carrier select and the payment of service bills.

du is 39.5 per cent owned by the UAE Federal Government, 19.75 per cent by Mubadala Development Company, 19.5 per cent by Emirates Communications & Technology Company LLC and the remaining stake by public shareholders. It is listed on the Dubai Financial Market (DFM) and trades under the name du.

For further information, please contact:
Saugat Chatterjee
Public Relations Manager
Brand & Communications
du
Mobile: +971 55 9367045
Email: saugat.chatterjee@du.ae

Reka Sepsy
Manning, Selvage & Lee
Tel: +971 4 367 6154
Mobile: +971 55 220 68 20
Fax: +971 4 367 2615
Email: reka.sepsy@dubai.mslpr.com

© Press Release 2011