10 May 2007 — Victorian Treasurer Visits DIFC

Dubai, UAE, May 10, 2007: The Treasurer of Victoria, the Honourable John Brumby today visited the Dubai International Financial Centre (DIFC) as part of a visit to the region and was met by Mr. David Knott, Chief Executive of the DFSA together with Mr. Nasser Al Shaali, Chief Executive of Dubai International Financial Centre Authority (DIFCA) and Dr. Nasser Saidi, Chief Economist of the DIFC. His Excellency the Australian Ambassador to the UAE, Mr. Jeremy Bruer, also attended the meeting.

The visit follows an invitation extended to Mr. Brumby by His Excellency Dr. Omar Bin Sulaiman, the Governor of the Centre, when, as part of a DIFC delegation to Australia, His Excellency and Mr. Knott met with the Treasurer in Melbourne in September 2006.

Mr. Brumby has the distinction of currently being the longest serving of Australia’s State Treasurers. He is also Minister for Regional and Rural Development and Minister for Innovation. In this context Mr. Brumby expressed considerable interest in the emergence of the DIFC as the world’s fastest growing financial centre and as the international investment hub for the time zone between Europe and Asia. A discussion took place on other matters of mutual interest, including the role of regulation and supervision. The Treasurer also noted with interest that active discussions are taking place between DIFCA executives and a number of Australian entities about participation in the DIFC.