Dubai Mercantile Exchange welcomes Sultanate of Oman as its third equity partner

Oman Investment Fund Concludes 30% Equity Stake

Dubai - 28 May, 2007: The Dubai Mercantile Exchange Limited (DME), initially a joint venture between Tatweer, a member of Dubai Holding, and the New York Mercantile Exchange Inc., (NYMEX), announced today that it has concluded a transaction with the Oman Investment Fund (OIF) to sell a 30% equity stake in the Exchange.

This transaction follows the announcement by Oman's Ministry of Oil & Gas that Oman will adopt forward pricing of its crude oil based on the daily settlement price of the DME's Oman Crude Oil Futures Contract, due to start trading on launch of the Exchange on June 1, 2007. The Oman Crude Oil Futures Contract was developed by the DME to offer the industry a new tool for managing risk through greater transparency. The benchmark contract was finalised after almost two years of analysis of the fundamentals of the Middle East sour crude oil market, and further consultation with over 75 market participants comprising of National and International Oil Companies, producers, end users, energy trading companies and brokers.

Saeed Al Muntafiq, Chairman of Tatweer, commented: "We are delighted to welcome the Oman Investment Fund as a partner in this historic venture. The acquisition of a 30% stake in the DME further validates our strong and visionary business model. Oman's confidence and support for the DME, as reflected by this announcement and the continuation of Dubai's role in developing this Exchange underscore the true significance and impact the DME is expected to have on the future pricing of Middle East sour crude oil."

NYMEX Chairman Richard Schaeffer said, "NYMEX is gratified to have the Omani government join us as partners in this exciting venture. Their support has been critical in the creation of the new benchmark Omani crude oil futures contract."

HE Ahmed bin Abdulnabi Macki, Chairman of the OIF commented: "The Oman Investment Fund is pleased to participate as a strategic partner in developing the Dubai Mercantile Exchange and we are also excited that the Exchange will use the new benchmark Oman Crude Oil Futures Contract. The Sultanate of Oman views this as a significant milestone for the fast growing financial markets of the region."

Ahmad Sharaf, Chairman of the DME, concluded: "This is a truly significant landmark in the development of the DME and further demonstrates the valuable and long-standing relationship between Oman and Dubai. Working with our partners, we are establishing a world-class Exchange that will leverage the regional and industry knowledge of Tatweer, the Oman Investment Fund and NYMEX. All our efforts are now focused on continuing to move towards the successful launch of the Exchange."

The DME continues to be overwhelmed by the support and confidence that it is receiving from the industry. To date, over 50 Members and more than 20 Market Makers have been approved by the DME Membership Committee, and the leading ISV's have connected to DME Direct™. The DME is committed to administering a fair market for producers, consumers and traders when it launches on June 1.

-Ends-

About the Dubai Mercantile Exchange
The Dubai Mercantile Exchange Limited (DME), a joint venture between the New York Mercantile Exchange, Inc. (NYMEX), Tatweer, a member of Dubai Holding, and the Oman Investment Fund aims to become the premier commodity and energy futures exchange in the Middle East, providing a financially secure, well-regulated and transparent trading environment.

The Exchange will initially develop and trade an Oman Crude Oil Futures Contract. This will address a growing market need for price discovery of Middle East Sour Crude Oil while simultaneously bridging the time zone gap between Europe and Asia by providing for the trading of energy futures, options and other products.

The DME will be a fully electronic exchange. However, in a unique concept, it will also bring together a community of traders that will operate from trading hubs and individual trading stations on the Exchange's floor, which will be located within the Dubai International Financial Centre (DIFC), the region's leading financial services centre.

The DME is regulated by the Dubai Financial Services Authority (DFSA), a world class, independent regulator, and all trades executed on the Exchange will be cleared through, and guaranteed by, NYMEX's AA+ rated clearinghouse.

For further information, please contact:
Financial Dynamics:
GCC:
John Hobday
+971 50 4648706 / john.hobday@fd.com

Manash Bhuyan
+971 4 3328832 / manash.bhuyan@fd.com

London:
Alya Shakir
+44 (0)20 7269 7165/ alya.shakir@fd.com

Seán Galvin
+44 7788 568245 / sean.galvin@fd.com

New York:
Scot Hoffman
+1 212 850 5617 / scot.hoffman@fd.com

Asia:
Julie Wang
+852 3716 9803 / julie.wang@fd.com