Arabic Press Release

16th July, 2008

DAE BOOSTS LEASING PORTFOLIO WITH FREIGHT AIRCRAFT ACQUISITION
DAE Capital adds 18 Boeing 747 and 777 Freighters in Emirates’ deal

FARNBOROUGH, UK — Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, is expanding its aircraft leasing portfolio with the acquisition of 18 Boeing freighter aircraft.

Confirmed today (Wednesday) by DAE Capital, the group’s aircraft leasing and financing business, the company is to acquire the new freighter aircraft in a split purchase and leaseback deal.

The aircraft, which will be acquired from Emirates Airline, comprises 10 Boeing 747-8Fs and eight GE90-115B powered Boeing 777 freighter aircraft.

This latest agreement will increase DAE Capital’s leasing portfolio to 49 aircraft and with a further 200 Boeing and Airbus aircraft on order, due for delivery between 2010 and 2013, the Dubai-headquartered company is rapidly establishing itself as a world-class aircraft leasing business.

H.E. Dr. Omar bin Suleiman, DAE Group Managing Director, said: “This latest deal is the clearest indication yet that we are on course for developing a world-class aircraft leasing and finance operation. With our location in Dubai, an experienced team and our resources, we will seize upon the significant aviation growth in the region and in other developing markets.”

Bob Genise, DAE Capital CEO, said: “This announcement strengthens our aircraft leasing and finance portfolio and demonstrates that we have what it takes to develop a significant global aircraft leasing and finance business from a standing start.”

Tim Clark, President of Emirates Airline, said: “This agreement will help Emirates continue to operate our fleet efficiently and with maximum utility, and we’re delighted to continue our relationship with DAE who are proving themselves to be a major force in airlines fleet management.”