STATEMENT FROM DUBAI MULTI COMMODITIES CENTRE AUTHORITY ("DMCCA")

STATEMENT FROM DUBAI MULTI COMMODITIES CENTRE AUTHORITY ("DMCCA")

November 2, 2009

With the highly anticipated completion of the Jumeirah Lakes Towers (JLT) community and the DMCC’s buildings (Almas Tower, AU Tower, AG Tower and J&G), the Dubai Multi Commodities Centre Authority wishes to state that JLT is an integral part of the Dubai Multi Commodities Centre free zone (“DMCC”) and therefore enjoys absolute free zone status. The DMCC was established by way of a Dubai Royal Decision dated the May 1, 2002 in which DMCC’s free zone status is clearly stated. Today, 1,800 companies avail themselves with the free zone state-of-the-art facilities in JLT.

DMCCA would also like to state that anyone wishing to establish a company and operate within the JLT free zone boundaries is required to be licensed by DMCCA. All premises within the JLT are subject to DMCCA rules and regulations without exception.

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About DMCC:
The Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, was established in 2002, with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. The Centre attracts key players throughout the entire value chain of a wide range of commodities sectors, together with relevant support industries such as finance, logistics and insurance. DMCC has established a robust infrastructure, including free zone status, trade networking platforms, secure vaults and purpose-built storage facilities. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment. DMCC has also implemented a dedicated compliance policy in the organisation, which is in line with the compliance related laws and regulations of the UAE Federal Government and the competent international bodies.