(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:13112007

DUBAI, UAE - In a stunning statement of its intent to build a
world-class aircraft leasing business, DAE Capital has agreed deals at
the Dubai Airshow totalling almost US$29 billion.

The aircraft leasing and financing arm of Dubai Aerospace Enterprise
(DAE), the global aerospace, manufacturing and services corporation,
DAE Capital has taken centre stage at the airshow with a quick-fire
series of announcements over the last 24 hours. These involved:

The US$500 million purchase of eight Airbuswide-body Airbus A330-200s
from Emirates Airline in a split purchase and leaseback deal that
marked DAE Capital's entry into the aircraft leasing market.

Signing of a US$1billion acquisition of20 narrow and wide-body aircraft
from GE Commercial Aviation Services (GECAS) in a deal comprising
Boeing 737 next generation series and Airbus A320 series aircraft.

And completed new aircraft and engine deals through:

signing a letter of intent with Airbus worth $13.5 billion for up to
100 aircraft comprising70 from A320 family and 30 A350 XWBs - with
deliveries to start in 2013 and conclude in 2022. The price
incorporates an associated deal with Rolls-Royce for its Trent XWB
engines to power the A350 XWBs, worth some $1.2 billion at list prices

completing a letter of intent (LOI) for 100 aircraft valued at
approximately US$13.7 billion with Boeing Commercial Airplane Company -
comprising70 Boeing 737 Next Generation aircraft and 30 wide-body
planes (covering Boeing 787s, 777s and 747s) for delivery between 2010
and 2018. The price incorporates an associated deal with General
Electric (GE) for 70 CFM56-7B engines for the 737s, GEnx-engines to
power five Boeing 747-8 Intercontinental and further GE90-115B engines
to power 10 Boeing 777-300ER aircraft. The engines are together valued
at more than US$1.9 billion.

The total value of the DAE Capital announcements was US$28.7 billion.

Speaking at the Dubai Airshow today, HH Sheikh Ahmed bin Saeed
Al-Maktoum, DAE Chairman, said: "We have begun to lay down a bold
vision for DAE across all of its business units and today's
announcements by DAE Capital will make it a global leader in the
aircraft leasing market."

DAE Group Managing Director, H.E. Dr. Omar bin Suleiman, said: "DAE
Capital has made history today by signing major agreements with
aerospace industry-leading companies. The DAE Capital team has only
been together for six months but has demonstrated its quality by making
today possible and is now making its mark on this industry."

Bob Johnson, DAE Group CEO, said: "In 24 hours DAE Capital has become
an aircraft leasing and finance provider that has made the world sit up
and take note. We are fulfilling our aim of rapidly building a
world-class global aerospace, manufacturing and services business. DAE
Capital will quickly rise to become a world-class aircraft leasing
business - providing customers with a combination of one of the world's
most experienced aircraft leasing teams that is managing a fleet of
modern single aisle and wide-body aircraft."

Bob Genise, CEO of DAE Capital, said: "In placing one of the largest
ever commitments for new aircraft and engines we have made a bold
statement of our intent. These deals, together with DAE's access to
efficiently priced capital, will help DAE Capital offer attractively
priced operating lease terms to airlines and generate significant
returns for our investors. We have taken bold steps toward becoming a
major force in this industry."

In the last six months DAE Capital has recruited an experienced team
and is now intent on driving a rapid growth strategy for offering
aircraft leasing, financing and insurance services. It is also uniquely
able to provide advanced value-added services in conjunction with other
DAE business units.

ENDS

About DAE Capital:

DAE Capital is part of Dubai Aerospace Enterprise, a fast developing
global aerospace, manufacturing and services corporation. Made up of
six divisions, the others are DAEAirports, DAE Engineering, DAE
Manufacturing, DAE Services and DAEUniversity.

Being established as an aircraft leasing, finance and insurance
business, DAE Capital aims to become one of the largest aircraft
leasing companies in the Middle Eastserving an international market,
inside the next decade. It aims to support the incredible demand for
new aircraft, particularly in the Middle East and Asia, with a balanced
quality portfolio of single-aisle and wide-body aircraft.

DAE Capital offers clients and investors a proposition few others can
match. As one of six divisions of DAE, the group provides a synergised
cluster of aerospace services, allowing customers to benefit from a
world-class shared knowledge and service pool. Its unrivalled position
allows it to provide advanced value-added services to airlines in
conjunction with the other DAE segments such as engineering,
maintenance, repair and overhaul.

DAE Capital seeks to become an integral part of the global aerospace
industry and a leading player on the world stage in terms of aircraft
leasing and finance.

About DAE:

Headquartered in Dubai, the group is growing through a series of phased
developments and acquisitions to become a global player and to produce
an integrated aerospace cluster, based at Dubai World Central - the new
140 square kilometre airport and logistics city being constructed in
Jebel Ali, Dubai.It is forming international partnerships at the
highest level of industry with the aim of establishing one of the most
innovative and successful businesses in the global aerospace industry
within the next decade.

DAE's shareholders include EMAAR, ISTITHMAR, Dubai Airport Free Zone
Authority (DAFZA), Dubai International Capital, DIFC Investments LLC,
the Government of Dubai and AMLAK Finance.

CONTACT: David Wilson/Steve Double/Neville Rawlings/James Thomlinson,
DAE Global Press Office at BellPottinger Public Relations
Tel: +44 (0)207 861 3998
e-mail: dae@bell-pottinger.co.uk
Zarmineh Rab, DAE
Tel: +971 50450 2315
e-mail: zarmineh.rab@dubaiaerospace.com
Dana Salloum, DAE
Tel: +971 50 2289791
e-mail: Dana.Salloum@dubaiaerospace.com

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