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07 May 2007 — Mr. Abdulla Saleh succeeds Dr. Habib Al Mulla as DFSA Chairman

Dubai, Monday, 7 May 2007: The Dubai Financial Services Authority (DFSA) today announced that its Chairman, Dr. Habib Al Mulla will not renew his term which expires next month.

Dr. Al Mulla has decided that the workload of his legal practice and other commitments require more of his time. He is therefore not seeking reappointment to the Board for a further term.

Mr. Abdulla Saleh, the Deputy Chairman of the DFSA will succeed Dr. Al Mulla as Chairman.

His Excellency, Governor of the Dubai International Financial Centre, Dr. Omar bin Sulaiman said:

“Dr. Al Mulla has served as Chairman of the DFSA since its formation and prior to that was a Board Member of its predecessor, the DIFC Regulatory Council. He was instrumental in advising on the laws establishing the DIFC and has played a prominent role in its successful development over the intervening period.

Under Dr. Al Mulla’s Chairmanship the DFSA has established an international reputation for excellence in financial services regulation.

On behalf of all of us at the DIFC, I extend my thanks and congratulations to Dr. Al Mulla and my best wishes to Mr. Abdullah Saleh in his new role.”