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DEPA JV WINS FIT-OUT CONTRACT FOR BAHRAIN BAY DEVELOPMENT’S FIRST BUILDING

Apr 29, 2008

Depa Limited

Mivan Depa wins contract for fit out of all public areas of Arcapita Bank headquarters

Dubai, 29 April 2008 – Mivan Depa, a locally-based specialist theme contractor, today announces that it has been awarded the complete fit out works for the Arcapita Bank Headquarters. Located in the Kingdom of Bahrain, it will be the first building to be erected in the prestigious Bahrain Bay Development complex. The contract was awarded by Atkins and Nass, Murray and Roberts, and has a value of USD 20.6 million. The project due for completion by May 2009, marks Mivan Depa’s entry into the Bahrain market.

“We are delighted to have been awarded such a unique project. We believe that the Arcapita Bank Headquarters will be one of our biggest achievements. Mivan Depa is the company of choice for fast track and highly technical themed contracting. Thanks to our international experience and strong foundation in the local market, we have now extended our operations to include Bahrain”, commented Paul Austin, Mivan Depa’s General Manager.

Mivan Depa is a joint venture between Depa Limited, the leading provider of interior contracting services in the Middle East and North Africa and Mivan Limited of Northern Ireland, a specialist theming contractor. Mivan Depa’s scope of work will include the internal fit out of the basement, ground floor reception and five floors for offices.

The entire Bahrain Bay development comprises 1.1 million sq m of new land built in a crescent and set to become the heart of the new business districts. This iconic building will represent the gateway to Bahrain Bay. The project is being financed by Arcapita Bank and managed by Bahrain Bay Developments, who have appointed Atkins as Resident Engineer, with Nass, Murray & Roberts as the principal contractor. Sime Malak and Alssamoure Design are the project architects.

Mivan Depa has recently handed over the gallery fit-out works at the iconic Museum of Islamic Arts in Doha, Qatar. This prestigious project was designed by one of the world’s top architects, I.M. PEI. In addition, the company is currently undertaking fit-out works on the Atlantis Hotel in Dubai, for the public areas and the nightclub. This project will be the flagship resort on The Palm Jumeirah.

Having teamed up with Depa, the Middle East’s premier hotel interiors contracting company, to form Mivan Depa Contracting LLC, the newly established joint venture provides a dedicated service to cater for specialist interior and exterior theme requirements in the Middle East and Gulf region.

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Notes to Editors

About Depa:

Depa is a leading interior contracting company in the Middle East, North Africa and Southeast Asia regions. Operating principally in the luxury fit-out industry, its main areas of business cover 5 star hotels, high-end residential properties, retail outlets, yachts, as well as public sector amenities such as hospitals and airports. Depa is listed on the Dubai International Financial Exchange (ticker DEPA) and has Global Depositary Receipts on the regulated market for listed securities of the London Stock Exchange plc (ticker DEPA and DEPS).

The range of business activities performed by Depa comprise:

•Interior contracting: which focuses on luxury interior fit-out services, which include installation and finishing of floors, walls, ceilings, fixed joinery, panelling, wood-works, doors and frames;
•Manufacturing: which comprises a network of factories and joineries which produce customized furniture, fixtures and equipment (FF&E);
•Procurement: which involves the procurement of supplies and materials from third parties to support and complement Depa’s interior contracting and manufacturing operations as well as third party procurement contracts for specific FF&E projects.

By integrating these services into a single package, Depa provides clients with comprehensive and customised interior contracting solutions.

With more than 7,000 employees worldwide, the company operates through an integrated network of subsidiaries, affiliates and representative offices located in the UAE, Saudi Arabia, Qatar, Egypt, Jordan, Syria, Libya, Morocco, India, Malaysia, Thailand, China, Singapore, UK, the Netherlands, and the United States. Through this network, Depa has successfully executed large and complex projects in over 15 countries including the Burj Al Arab Hotel, (Dubai), Emirates Palace (Abu Dhabi), the Museum of Islamic Art (Doha), Four Seasons Hotels (Sharm El Sheikh & Mumbai) and Mazagan Resort (Casablanca).

Mivan Depa Contracting LLC

Mivan Depa was launched on February 8th 2005 in Dubai by Depa, the leading provider of interior contracting services in the Middle East and North Africa and Middle East’s leading Hotel Interiors contracting company and Mivan Limited of Northern Ireland, a specialist Theming contractor.

Mivan Depa is a modern proactive company and a pioneer in specialist construction, with a will to move mountains to get the job done. By developing co-operation, cultural awareness and technical expertise, Mivan Depa has created a corporate philosophy of hard work, versatility and unending pursuit of excellence.

The company’s project management and interiors fit-out capabilities have made a natural transition into the event, exhibition, museum and visitor attraction market.

Mivan Depa allows clients access to its in-house design development, project management, manufacturing and costing skills. It assembles a dedicated team of professionals to be responsible for graphics, audio-visual software and hardware, scenery props, display cases and interactive exhibits.

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35th Floor, P.O. Box 56338,
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info@depa.com

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