Arabic Press Release

18th June, 2007

DUBAI AEROSPACE ENTERPRISE SIGNS STRATEGIC AGREEMENT WITH BOEING

Paris, June 18, 2007: Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, today signed a memorandum of understanding (MoU) to forge a strategic partnership with Boeing.

The two companies are to evaluate the benefits of forming a strategic long term collaboration where their dual expertise in aircraft services, customer education, financing and maintenance, repair and overhaul (MRO) operations can be harnessed.

DAE CEO Bob Johnson said: “This outline agreement with Boeing further establishes DAE as an emerging force in the global aerospace industry. We believe a relationship between our two companies would be a good fit for both DAE and Boeing, allowing us to focus collectively on common activities.

“Our capabilities on the global stage are being increasingly recognised in the industry and the opportunity to work with one of the world’s leading aircraft manufacturers represents an ideal collaboration for DAE.”

Scott Carson, President and CEO of Boeing Commercial Airplanes, said: “MOUs, such as we are signing today with DAE, demonstrate Boeing's commitment to engage our stakeholders in the Middle East in order to establish a framework for building even greater partnership and cooperation. We look forward to working with DAE to explore ways we can work together to further enhance the aviation sector across the region."

Under today’s agreement, Boeing and DAE will form a joint steering committee to oversee a number of projects where the companies can explore opportunities for long term strategic collaboration.