Facility will enhance Dubai's role as region's major oil products trading hub

Jet fuel to be supplied to DWC - Al Maktoum International Airport

Provides additional supply security for Dubai's rapidly growing oil products demand

Dubai, 8 March, 2008: Dubai Multi Commodities Centre (DMCC), Star Energy Resources and Tropicana Trading DMCC today announced the signing of a Framework Agreement to build a world class oil products storage facility at Techno Park in Dubai. The proposed oil storage terminal will have an initial capacity of 570,000 m³ and involve an estimated investment cost of around US $200 million.

The facility will store a wide range of oil products, including gasoline, gasoil/diesel, jet fuel and fuel oil, as well as offering complementary services such as blending. Located within easy distance of the upcoming Dubai World Central - Al Maktoum International Airport, the storage infrastructure facility is expected to service the new airport via a pipeline directly linking the two facilities. In addition, two new oil tanker berths will be built at the western breakwater of Jebel Ali port for easy supplier access, with the capacity to accommodate tankers of up to 80,000 tons.

The Final Investment Decision for go ahead of the project will be subject to positive results from a Front End Engineering and Design Study, which will be completed within six months time.

"Ensuring adequate oil storage facilities is crucial for enhancing Dubai's role as the Middle East's leading oil products trading hub and for accommodating the rapid growth of Dubai's own oil products demand, particularly its need to support a burgeoning civil aviation sector," said DMCC Executive Chairman Ahmed Bin Sulayem."

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About DMCC
The Dubai Multi Commodities Centre, a strategic government initiative, rated 'A' by Standard & Poor's, provides innovative concepts and industry-specific physical and market infrastructure products that facilitate the growth of the energy (alongside other commodities) business in Dubai. DMCC's strategic objectives include reinforcing Dubai's position as the energy hub for the region, in addition to the development and launch of energy contracts for the Dubai Gold and Commodities Exchange (DGCX). DMCC is working with partners, regionally and internationally, to promote the highest global standards in product and service development, while encouraging greater transparency to the benefit of all market participants.  DMCC facilitates businesses in Dubai through its free zone status.

About Star Energy Resources Ltd
Star Energy Resources Ltd (Star Energy Oil Tanking) owns and operates an independent petroleum products storage facility in Dubai's Jebel Ali Freezone. Star Energy Resources is a venture of Star Energy Group Ltd., in which Oiltanking GmbH is a shareholder. Star Energy Group is an Abu Dhabi based company that has been involved in the trading of petroleum products and independent oil storage and handling since 1982. Oiltanking is a subsidiary of Marquard & Bahls AG, Germany, a leading privately owned petroleum company. Oiltanking is the world's second-largest provider of independent tank storage for petroleum products, chemicals and gases. The company owns and operates 74 terminals in 21 countries within Europe, North and South America, the Middle East and India as well as Asia. Oiltanking has an overall storage capacity of 12 million cubic meters.

About Tropicana DMCC
Incorporated within the DMCC Free Zone, Tropicana Trading DMCC has grown within four years into a US$30 million business, with annual group turnover exceeding US$300 million. The group has varied interests, including oil trading activities, terminal operations, tanker ownership & management and specialized project investments in the UAE, Indian sub-continent and Europe. Tropicana aims to focus on delivering clean and efficient energy products and economical logistics solutions, bringing a pioneering approach to its activities within these sectors.

For further information on DMCC, please contact:
Nicholas Nesson / Gunjan Chaurasia
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-50-4785324 / 50-2797034
Fax: 971-4-3356080

For further information on Star Energy Resources Ltd. please contact:
Mr. Sonke Stein;
Chief Executive Officer;
Star Energy Resources Ltd.
Tel: +971-50-4582922

For further information on Tropicana, please contact:
Angela Noronha; Manager
Administration & Public Relations.
Tel : +9714 3514814;
Fax: +9714 3514813

© Press Release 2008