Day 2 workshop YAL-ASF workshop - eMADAK

MEDIA RELEASE

Date: 14th Dec, 2004

Embargo: Immediate

YOUNG ARAB LEADERS CHART OUT PATH FOR
REVIVAL OF THE REGION

Hold dedicated workshop at Arab Strategy Forum to gain input for plans to
promote leadership skills among the young in the region

Dubai - United Arab Emirates: How to revive the glory of the Arab world, how to
activate high development rates and how to ensure a young corps of competent and
efficient leadership for the future -- were the main themes of a dedicated workshop that
was organised by Young Arab Leaders on the sidelines of the Arab Strategy Forum 2004.

“We have an aggressive plan to identify, create, develop, support, encourage and promote
the leaders of tomorrow. We know that for our plan to be successful, we need to get input
from leading minds and experts who have accumulated decades of management
experience and leadership skills. The Arab Strategy Forum presented an ideal platform
where some of the greatest thinkers, leaders and managers of today have gathered,” said
Hakam Kanafani, Vice Chairman of the Executive Committee of the YAL.

The workshop on ‘The Arab World: Between the Realities of Today and the Promises of
Tomorrow’ discussed the plans for the revival of the region. It outlined prospective
opportunities and realities that face the region and put the present and future situation in
the Arab world in a global context.

Several major personalities attended the workshop and included HE Dr. Hanan Ashrawi
Secretary General of the Palestinian Initiative for Promotion of Global Dialogue and
Democracy (Miftah) and Member of the Palestinian Parliament. Insights into the subject
were also provided by Dr. Fareed Zakaria, Editor of Newsweek International of the USA
and Dr. Ghassan Salameh, professor of International elations, Institutit d’Etudes
Politiques de Paris, France and Former Minister of Culture of Lebanon.

Dr. Hanan Ashrawi speaking at the workshop stressed the importance of providing
opportunities and scholarships to the young who excel, as a way of empowering them.
She said that it important to recognize the merit in the young leaders as a tool for
effecting positive change.

Dr. Ghassan Salameh speaking during the workshop said that most societies - especially
Arab societies in transitional times - need affirmative action to support potential leaders
because otherwise certain groups such as the women and the poor will get marginalized.
He said that the population growth has to be controlled so that it is less than economic
growth otherwise there is possibility of new urban rebellions.

Dr. Fareed Zakaria said that the biggest challenge faced by the Arab world is that of
employment. He said that if you look at countries that have done well you see that they
have certain common elements. First, the market has to be free to play a dominant role in
the allocation of capital and creating entrepreneurship.

Secondly countries that want to replicate the success need to be open to world economy
as it benchmarks them to global standards in various spheres including education.

Thirdly, he said that countries need judicial systems and governments that work. Fourthly
the countries will need capacity to invest in infrastructure.

Dr. Zakaria said that in case of Arab countries although they might need to remove other
hurdles the capacity to invest in infrastructure already exists which might make progress
possible for them in a much faster and smoother way.

The interactive discussions between the panel and delegates centered on the issue of
where does the Arab world want to be in 2020 and what role could the youth play in
transforming the region?

The workshop debated the critical issue of reform asking whether reformation was the
vehicle for westernisation of the region and is westernisation related to the absence of
home grown role models for Arab youth?

The workshop delved into the factors that need to be implemented to create an
environment that empowers today’s youth to become effective influencers of policies that
will drive future growth and development.

“How can the youth form a mission that can bring the Arab world together and how can
we merge the different incentives of the youth,” asked Hakam Kanafani, Vice-Chairman
of the YAL Executive Committee.

The workshop highlighted ways to prepare future political and business leaders in the
Arab world.

“What we learned through this workshop will be analysed. We will incorporate what we
have learned here today into our work plan for 2005. We are enthused by the faith
reposed in Arab youth by all who attended today’s workshop. With such hopes from our
young and with the support and encouragement of the public and private sector leaders,

we are sure that we cannot fail in our objective,” pointed out the YAL Executive
Committee Vice Chairman.

Kanafani added: “We want to promote transparency and good governance. We will
publicise our work plan and what we will achieve over the year, we will present for
evaluation at Arab Strategy Forum 2005.”

YAL aims at widening its membership base to include 500 members below the age of 45
who are selected from various countries in the Arab world. These will be those who are
known for their leadership skills and wise management of resources in order to build a
better future for the region.

-ENDS-
For further information

Contact:
Dubai Press Club
Ph: +9714-2226222
Fax: +9714-2226888
www.dpc.org.ae

MEDIA RELEASE

Date: 14th December 2004

Embargo: Immediate

HARIRI SAYS A STATE IS NOT A ‘CHOCOLATE’ GIVEN TO
PALESTINIAN PEOPLE FOR GOOD BEHAVIOUR

Tells delegates at ASF 2004 that comprehensive peace is only possible if
Israel withdraws army from Lebanese and Syrian territories

Dubai – United Arab Emirates: Former Lebanese Premier Rafiq Al Hariri, today
criticized efforts by Western powers to link statehood for Palestinians with “good
behaviour”.

“A Palestinian State should not be a prize for good behaviour. A state is not a piece of
chocolate or the promise to take a child to picnic if he behaves well. Arabs are ready for a
just peace. I hear that the US and Europe are convinced of a Palestinian state. But
Palestinians should have a country today and not tomorrow,” Al Hariri told delegates at
the Arab Strategy Forum.

The former Prime Minister of Lebanon was delivering the keynote address on the second
day of the three-day Forum that is taking place at Madinat Jumeirah in Dubai.

Al Hariri pointed out that for there to be a comprehensive and just peace in the region,
Israel will have to withdraw its army from Lebanese and Syrian territories.

FOCAL POINT

Speaking on the theme of ‘Arab World in 2020’, Al Hariri said that he is optimistic, but
that optimism is based on factors. One of these is that the world has to end the Arab-
Israeli conflict. “We have to achieve just peace. We have to end Israeli occupation. This
is a focal point that will define our future.”

He said the Palestinian people have a right to live in peace and security in their own
homeland. “There should be confidence building measures. These cannot be built in one
day or two or in one year or ten. Oslo was ten years ago. Today’s roadmap for peace is
based on the same principle and that is what is taking us to a dead end. There is
increasing violence and counter violence.

“If there is serious political will to achieve a Palestinian state, any delay will give both
parties the opportunity to delay peace further,” Al Hariri said.

DEMOCRACY

Referring to Iraq, the former Lebanese Premier said that the proposed elections are an
opportunity for unity among Iraqis. “There should be no discrimination and all people
should be able to participate. We have to have the support of the international
community, especially the USA.”

Al Hariri said another pillar of a better future of the Arab world is democracy. “Reform
has not been successful because there was no good base for democracy or freedom.

Democracy is a must and not a choice. However, the concept of democracy is not as
defined in the US and Europe. Some say that Islam and democracy do not go together.
This is very wrong. Islam has its own transparent way of a relationship between the ruler
and the people.”

The keynote speaker said the present times are critical for the Arab world. “Can we
succeed in economic reforms when we have failed in political reforms?” he asked.

BEST INVESTMENT

Though the situation is depressing it is not entirely pessimistic. “We need to start
working today for the future. We need to start working on what kind of a future we want
in 2020. We have to identify objectives otherwise we will continue to be reactive and not
pro-active. We have to have a role in the world. We must be a partner in the dialogue
about our fa te,” Al Hariri said.

“The challenges are not easy. We need to make fundamental changes in sectors such as
education, teaching and learning, human resources development and re-training and
rehabilitation. That is the best investment we can make,” Al Hariri said.

“Waiting will not benefit us. Suddenly we will find ourselves in 2020,” Al Hariri added.

The Arab Strategy Forum has six Organising Partners and two Media Partners. They are
Emirates National Oil Company Ltd (ENOC), Abraaj Capital, PricewaterhouseCooper,
DaimlerChrysler, National Bank of Dubai and Gulf News, in addition to Media Partners
Al Sharq Al Awsat and CNN. The Arab Strategy Forum will provide valuable insights,
which will help in improving the status of the Arab World.

-ENDS-

For further information
Contact:

Dubai Press Club
Ph: +9714-2226222
Fax: +9714-2226888

www.dpc.org.ae

MEDIA RELEASE

Date: 14th December 2004

Embargo: Immediate

INDIA CAN PROVIDE A GROWTH MODEL FOR ARAB
WORLD, SAYS SHEIKHA LUBNA

Planned economic integration of the Arab region will benefit all countries of
the region, Orascom chairman

Dubai – United Arab Emirates: HH Sheikha Lubna Al Qasimi, Minister of Economy
and Planning of the United Arab Emirates, today stated that India provides a model for
the Arab region. “We can learn from it. It has achieved high economic growth despite
problems like rapidly increasing population growth.”

Sheikha Lubna was taking part in a discussion on the second day of the on-going Arab
Strategy Forum in a session on ‘Globalisation of Economies and Business in 2020 – The
Future of Economic and Financial Reform in the Arab World.’

Sheikha Lubna was joined by George T Abed, Former Director, Middle Eastern
Department, International Monetary Fund (IMF). He suggested that investing heavily in
English- language education can help the Arab world achieve economic growth.

Speaking with reference to the outsourcing industry, Abed said India has achieved
economic growth and huge successes in the outsourcing industry largely due to its
investment in education, specifically English education.

Abed said that unemployment will continue to be a major problem affecting the Arab
world. “With just 4 per cent growth in the next few years, the inability of paltry economic
growth to generate jobs and the competition faced from India and China, the number of
unemployed in the Arab world will rise to 26 million.”

He said that there were four key impediments to economic growth in the Arab world:
Bloated governments, lack of modern institutions, underdeveloped financial institutions
and absence of active capital markets.

EQUAL OPPORTUNITIES

According to Rudiger Grube, Member of the Board of Management of Daimler Chrysler
Germany, speaking at the second session of the second day of the Arab Strategy Forum,
the Arab world needs to provide equal opportunities to its citizens to become a political
and economic power.

Giving his prescription for the development of the Arab region into a force to reckon with,
Grube mentioned six “pre-requisites”: “Political stability, widespread access to education,
inclusion of women in political, economic and social life; reduction of bureaucracy,
increase in transparency and a stop to externalisation the Arab world’s problems.”

The session discussed a diverse range of issues including the major initiatives for
economic reform, the fundamental changes required to attract local and foreign
investment, redeployment of privatisation revenues for development and the need to
redefine the role of government.

The planned economic integration of the Arab region will benefit all countries of the
region, said Naguib Sawris, Chairman, Orascom Telecom, Egypt.

He said that though there are great differences in the countries in the Arab world, but all
countries can benefit from integration. Competitive interests need not prevent effective
integration of the Arab region, he said and cited Dubai as a model that the Arab world
could learn from.

The Arab Strategy Forum has six Organising Partners and two Media Partners. They are
Emirates National Oil Company Ltd (ENOC), Abraaj Capital, PricewaterhouseCooper,
DaimlerChrysler, Nationa l Bank of Dubai and Gulf News, in addition to Media Partners
Al Sharq Al Awsat and CNN. The Arab Strategy Forum will provide valuable insights,
which will help in improving the status of the Arab World.

-ENDS-
For further information

Contact:
Dubai Press Club
Ph: +9714-2226222
Fax: +9714-2226888
www.dpc.org.ae

MEDIA RELEASE

Date: 14th December 2004

Embargo: Immediate

HH Sheikh Mohammed launches ‘Business Bay’ to put the
UAE on the world map as a leading business centre

The new city will occupy an area of 64 million sq. ft. and aims to build a
new business capital for the region

Dubai – United Arab Emirates: His Highness General Sheikh Mohammed bin Rashid
Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence, today announced
the ‘Business Bay’, a new initiative that aims to make the UAE a leading international
commercial and business centre.

‘Business Bay’ is a new commercial and business cluster that will be located along a new
extension of the Dubai Creek. It will extend from Ras Al Khor to Sheikh Zayed Road.
Covering an area of 64 million square feet, the new initiative will provide a conducive
environment and infrastructure for businesses from around the world to establish their
local, regional and international headquarters.

Dubai’s Business Bay will be similar in nature to Manhattan or Ginza, which are the
business centres for cities like New York and Tokyo.

The business cluster will extend several kilometers along an extended Dubai Creek
starting from the Ras Al Khor area to the point on Sheikh Zayed Road where the previous
Central Military Command existed. This whole area will turn into an active commercial
and business district that will encourage leading firms to house their local, regional and
international headquarters there.

Announcing the project, His Highness Sheikh Mohammed said: “In the past, the
prosperity of the city depended heavily on the Creek and most of the people resided along
the shores. My father, Sheikh Rashid’s vision to take Dubai to news levels of growth and
development, led to the dredging of the Creek. And it is our pleasure today to announce
another key project which is related to the Creek.”

Commenting on his expectations for the fut ure of the project, Sheikh Mohammed said:
“The last few years have witnessed ambitious initiatives such as Dubai Internet City,
Dubai Media City, Dubai International Financial Center, Dubai Healthcare City and the
Palm -- all aimed to strengthen the role that Dubai will play in both the regional and the
international levels.

“However, we felt that we need to do more. We wanted to build a project that will be the
cornerstone of a new economic push and to extend the international role of the UAE.
Extensive studies that were done by some of the top international consultancies stated
that ‘Business Bay’ is a project that will surely make the desired change.”

Concluding the announcement, His Highness said: “Business Bay is an initiative that
reflects our commitment to continue to heavily invest in order to develop the
infrastructure of the country and to maintain good relations between the public and the
private sectors.

“This is done not only through the constant revision of rules and regulations which help
the growth of businesses, but also through working hard to launch new investment
opportunities for the private sector. We are confident that ‘Business Bay’ will play a
major role in the development of the country, ” Sheikh Mohammed added.

Mohammed Al Gergawi, CEO of Dubai Holding said : “Business Bay reflects the
ambitious vision of Dubai and the role that the UAE is looking forward to play as a
leading international commercial and business centre. And as His Highness stated, the
essence of the project -- the first of its kind in the region -- lies in extending the Dubai
Creek to allow for the construction of a huge new city within the city. The importance of
this unique project lies not only in its size or cost, but also in the tremendous impact it
will have on the local economy.

Al Gergawi said: “Business Bay will be managed by Dubai Properties, one of Dubai
Holding entities. The business cluster will prepare the UAE to face future challenges in
light of the major changes that business sectors in the world are witnessing. In fact, the
competition between the traditional business sectors has taken new dimensions. This will
be in favour of the sectors which invest in developing their infrastructure and work on
providing an ideal environment for business.

“We look forward to the role the Business Bay will play in making this country one of
the best business centres in the world. This ambitious project is expected to attract large
number of regional and international firms, especially with the modern infrastructure and
the facilities that this project provides, in addition to the already existing rules and
regulations that encourage the prosperity and stability of business in the country, ” Al
Gergawi added.

According to the CEO of Dubai Holding, Business Bay will occupy an overall area of 64
million square feet. “Business Bay will feature facilities such as towers for offices and
accommodation, gardens, and a network for roads. It will also feature fascinating canals
to add to the magnificence of the project.

Al Gergawi said: His Highness’ vision is to build a magnificent business and commercial
capital in the region to be the headquarters for leading regional and international firms.

It is worth mentioning that Dubai Properties, one of Dubai Holding entities, has been
launched to manage leading existing projects in Dubai such as Jumeirah Beach Residence,
Dubai Internet City, Dubai Media City, Dubai Healthcare City etc. It is also tasked to
create, develop and manage new mega projects.

For more information contact
Dubai Press Club
+9714-2226222
www.dpc.org.ae

MEDIA RELEASE

Date: 14th December 2004

H.H. Sheikh Mohammed Bin Rashid
Launches Dubai School of Government with the assistance of
Harvard University’s John F. Kennedy School of Government

Dubai, UAE: Under the directives of His Highness General Sheikh Mohammed bin
Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister, Mr.
Mohammed Al Gergawi, Secretary General of the Executive Council of Dubai
announced the launch of a world-class knowledge institution, the Dubai School of
Government (DSG), during a speech at the Arab Strategy Forum.

The Dubai School of Government, the first of its kind in the region – established with
the assistance of Harvard University's Kennedy School of Government – is dedicated
to enhancing public sector manageme nt in the region by developing talented leaders
through the exchange of ideas and sharing knowledge.

“The leaders of tomorrow are our focus and the foundation of the future. Our duty is
to advance their skills and knowledge to continually enhance the quality of public
administration.” H.H. Sheikh Mohammed Bin Rashed Al Maktoum said in a
statement issued to commemorate the announcement.

The Dubai School of Government will aim to fulfill the vision of His Highness. It will
further the study and practice of government by working with international scholars
and cultivating regional expertise.

"This relationship represents an important effort between our schools and our
countries. Both institutions and nations will benefit from the combination of scholarly
thought and regional perspective that this effort will allow." Dean David Ellwood,
Harvard University’s Kennedy School of Government.

"There is a need for governments and global institutions in the region to develop a
higher level of efficiency and effectivene ss in public service management. Officials in
all governments are under increased pressure to produce results for their citizens. The
challenge facing the leaders of any government institution is to ratchet up
performance in a way which produces results that citizens value – and that generates
the resources and flexibility needed to do even better in the future," said Mr.
Mohammed Al Gergawi.

"Citizens want results. Citizens crave results. Citizens expect better performance from
their governments. The e-government initiative in Dubai is a clear example of
achieving valuable results for our citizens,” he pointed out.

“But what are the strategies that government executives can use to motivate improved
results?” he asked answering that: “The Dubai School of Government, through its
research, public policy conferences and executive education programmes, will
provide key information that public executives can use to develop strategies for
performance improvements in their respective countries."

DSG, together wit h the Kennedy School of Government, will provide leading
executive education programmes for regional decision makers, and advance public
management through comprehensive research and analysis. Knowledge exchange on
current public policy issues through forums and conferences and shared expertise of
world leaders at distinguished lectures will also be an integral part of DSG's yearly
programme.

"Our cooperation with the Kennedy School of Government, a leading international
centre for scholarship and teaching on effective public problem solving and
leadership, ensures the transfer of international talent and expertise and provides us
with an opportunity to address pertinent policy issues in the region," added Mr. Al
Gergawi.

He confirmed that the DSG staff is dedicated to working with the governments of the
region to help improve the public service infrastructure, which in turn will have a
positive impact on the overall enhancement of public governance in the region,
ultimately benefiting corporate development and citizens alike.

Founded in 1936 as the Harvard Graduate School of Public Administration, the school
was renamed the John F. Kennedy School of Government in 1966. The variety of
activities of the Kennedy School includes basic research on analytical methods and on
the art and science of public management; applied research on major public
programmes; degree programmes to prepare the next generation of public leaders;
executive programmes to enhance the knowledge, skills, and perspectives of
individuals already in positions of significant responsibility; and collaborative efforts
that bring together scholars, public officials, and others concerned with public issues.

ENDS

For further information:
Rasha Zeitoun
TMI J- Walter Thompson
Tel: 9714 2215342
Mobile: 97150 5655172

MEDIA RELEASE

Date: 14th December, 2004

Embargo: Immediate

IRAQI FOREIGN MINISTER BLAMES CURRENT UNREST
ON SADDAM LOYALISTS

New government will not be formed until the new constitution is written by
the end of 2005, says Hoshyar Zebari

Dubai - United Arab Emirates: Hoshyar Zebari, Iraqi Minister of Foreign Affairs, has
pointed a finger at former president Sadam loyalists for inciting the current turmoil in the
war ravaged country. Without naming any country, he also alleged that the disaffected
were receiving support from outside.

Zebari was speaking at the on-going Arab Strategy Forum in the second a session on
‘Iraq: Present & Future’. The sessio n was moderated by Dawood Al Sheryan from Dubai
TV. The three-day Arab Strategy Forum ends tomorrow.

Zebari said: “Iraq is going through deep transformation and faces the biggest challenge
from conflicts within Iraq which are caused by the struggle between two forces. One
which wants an Iraq which is for everybody and which has a peaceful and responsible
government that preserves the interest of the people.

“Another group wants to go back to the past and impose power by force. These are forces
are from the old regime of Saddam supported by some foreign parties,” Zebari said.

He set a positive tone by saying that Iraq is now open to new opportunities to emerge
again and to consolidate its resources and position in the region.

Zebari said that in spite of contrary perceptions, Iraq is very much rooted in Arab and
Islamic beliefs. He said that Iraq is committed to the charter of the Arab League and is
committed to democratic and multi-party ideal.

Hoshyar Zebari said that the General Elections which are to be held on 30th January 2005
are a national requirement which the Iraqi government has to fulfill to elect a
constitutional body that will write the permanent constitution of Iraq with the support of
the United Nations.

IRAQI ELECTIONS

As to the threats that may hinder this election process, Zebari said that foremost was the
security threat by forces that are against democracy that pose threat to candidates and
voters.

As to the future of Iraq after elections, Zebari said that there is a misunderstanding
amongst the general public and media. He clarified that these elections will not decide
who will govern Iraq. “These elections are not the end of the operation, rather they are
just to form the transitional council and the new government will not be formed until the
new constitution is written by the end of 2005.”

He said that the next year will be decisive and difficult for Iraq but the new government
will have more legitimacy as it will be elected by popular vote.

Zebari said that the other crucial threat to the election will be posed by the rate of
participation and said that he does not expect that everyone will take part in these
elections as the Baathists openly say that they will boycott them if they have no share in
Government. He, however, was optimistic about popular participation.

He said that there are also the extremist forces in Iraq who refuse democracy, freedom,
uplift of women and all efforts to set up a responsible administration. “To try to reach any
agreeme nt with them is a waste of time,” he pointed out.

Zebari said: “The ballot box is the test for those who want to prove their say in Iraq.”

The Arab Strategy Forum has six Organising Partners and two Media Partners. They are
Emirates National Oil Company Ltd (ENOC), Abraaj Capital, PricewaterhouseCooper,
DaimlerChrysler, National Bank of Dubai and Gulf News, in addition to Media Partners
Al Sharq Al Awsat and CNN. The Arab Strategy Forum will provide valuable insights,
which will help in improving the status of the Arab World.

-ENDS-
For further information

Contact:
Dubai Press Club
Ph: +9714-2226222
Fax: +9714-2226888
www.dpc.org.ae

MEDIA RELEASE

Date: 14th December 2004

Embargo: Immediate

LIBYA TO OPEN BANKING SECTOR TO ARAB
INVESTORS

Telecom sector to be liberalized in a phased manner

Dubai – United Arab Emirates: Libya is seeking to liberalise its banking industry by
first opening up the sector to Arab investors and privatizing two major government banks.
This was revealed by HE Dr. Shukri Ghanem, Prime Minister of Libya on the second day
of the on-going Arab Strategy Forum.

At a session devoted to Libya titled ‘Libya: The Vision for the Future’, Dr. Ghanem said
that the Libya n market is now in a position to absorb competition from international
banking companies. “We will first start with Arab banks while at the same time privatize
two major banks,” he told the audience.

On the telecommunications sector, Dr. Ghanem said Libya is currently focused on
restructuring its monopoly telecom service provider. “We will initially give a chance to

local and public investors and later consider opening the market to international
companies.” However, he said, this will not happen in the short term.

Dr. Ghanem also talked about the need for the Libyan economy to reduce the dependence
on oil revenues. “Oil revenues should be used to provide a reserve for the economy.
Government must find ways to stop depending on oil as the main source of income and
look for alternative sources. “We believe that oil revenue should not support the whole
economy, he said. “Oil should be used as an engine for growth,” he added.

OIL FUND TO BOOST ECONOMY

“Libya, realizing that oil won’t last forever, is now seeking to find alternative sources and
develop new industries as well as utilize oil resources in the most profitable way,” he said.

Dr. Ghanem said Libya is looking at creating funds with oil revenue that could be used to
generate more economic activity and growth as well as build new infrastructure. This
fund, he said, could also support the development of ideas into business projects and
thereby become an engine of growth.

EFFICIENT MANAGEMENT

He talked about how oil revenues have been managed poorly by many countries. “Some
of the poorest areas of the wo rld quickly acquired oil wealth. Though it solved many
problems, the resource itself became a problem because the management of revenues was
not good.

On the question of oil prices, he said that oil prices should be de- linked from any conflict.
Libya, he said, has its own reading of oil prices. “We have to protect prices and have to
set a minimum price.” He dismissed the impact of the search for alternative sources of
energy on oil process. “Some alternatives have emerged but they are not likely to lead to
an immediate reduc tion in the role for oil,” he said.

The Arab Strategy Forum has six Organising Partners and two Media Partners. They are
Emirates National Oil Company Ltd (ENOC), Abraaj Capital, PricewaterhouseCooper,
DaimlerChrysler, National Bank of Dubai and Gulf News, in addition to Media Partners
Al Sharq Al Awsat and CNN. The Arab Strategy Forum will provide valuable insights,
which will help in improving the status of the Arab World.

-ENDS-
For further information

Contact:
Dubai Press Club
Ph: +9714-2226222
Fax: +9714-2226888
www.dpc.org.ae

MEDIA RELEASE

Date: 14th December 2004

Embargo: Immediate

OIL IS STILL GOING TO BE KING IN 2020, SAY UAE &
QATARI OIL MINISTERS

Alternative sources not doing too well, says former UK Energy Secretary

Dubai – United Arab Emirates: The oil ministers of United Arab Emirates and Qatar
have ruled out the possibility of oil declining in importance by the year 2020, in a panel
discussion during the on-going Arab Strategy Forum.

“Oil will continue to play a very strong role. There will be more need for oil,” stated HE
Abdulla bin Hamad Al Atiyah, Second Deputy Prime Minister and Minister of Energy &
Industry of Qatar.

UAE Minister of Energy, HE Mohammed Al Hamli, stated that: “The future is very much
for oil. Oil will be dominant in 2020.”

Speaking during the third session on ‘Energy in 2020 – the Future of Oil and Gas’, Al
Hamli pointed out that demand for oil is forecast to grow by 1.7 per cent from now until
the year 2020.

The Arab oil ministers’ comments were supported by Lord Howell of Guildford, former
UK Energy Secretary. “Demand for oil will go roaring onwards. There may be hiccups,
but it will go on,” he said.

Lord Howell said that the scenarios that were being presented by analysts were much too
gloomy. “I believe the possibilities are increasing and are very positive. China has been
drinking oil. It has just started. The same applies to India. We haven’t even started on the
growth in demand in these areas. The USA continues to drink oil at enormous rates,”
Lord Howell pointed out.

NON-OPEC SOURCES

He saw a bright future for oil for several reasons. The former UK Energy Secretary
pointed out that the risk is very high and costs are every high for non-Arab or non-Opec
(Organisation of Petroleum Exporting Countries) sources of oil. The alternative sources
of energy scene, too, is not working. “Instead of carbon emission falling, they are actually
going up and alternatives to fossil fuels are not doing too well.”

Lord Howell told the delegates that oil is in Arab hands and so is the potential. They have
to make the best or it. They have to govern well or they would frighten away the
investing public and let extremists in. He also urged the oil producers not to look for EU–
style unity as the European Union still is faced with 90 million unemployed. He
suggested greater stress on education.

CLEVER USE

“You have to be clever in using the fantastic opportunities,” Lord Howell said.

UAE Energy Minister Al Hamli pointed out that most of the oil in the world is more or
less discovered by now. “I can’t see more giant oil fields being discovered. Now we are

looking to better the recovery rates and arrest the depletion in reservoirs. In some of the
old giant fields, the rate of depletion is as high as close to 15 per cent.”

Al Hamli said Opec has been doing well. “Opec, actually, is excellent when it comes to
crises management. We have seen the prices go down to about US $8 per barrel. Opec
worked very hard to bring it up. Opec is responsible and wants to continue to supply the
consuming countries.

“The consuming countries also do not want the prices to fall too low as they want to see
Opec invest in building more capacity,” Al Hamli explained.

The session was moderated by Hussain Sultan, Group Chief Executive & Board Member
of Emirates National Oil Company (ENOC) Group of the UAE. Other participants
included Dr. Adnan Shihab El Din, Research Director for Opec and Mustapha Muhtaram,
Chief Economist for General Motors.

The Arab Strategy Forum has six Organising Partners and two Media Partners. They are
Emirates National Oil Company Ltd (ENOC), Abraaj Capital, PricewaterhouseCooper,
DaimlerChrysler, National Bank of Dubai and Gulf News, in addition to Media Partners
Al Sharq Al Awsat and CNN. The Arab Strategy Forum will provide valuable insights,
which will help in improving the status of the Arab World.

-ENDS-
For further information

Contact:
Dubai Press Club
Ph: +9714-2226222
Fax: +9714-2226888
www.dpc.org.ae

SPEECH OF

MR. MOHAMMED AL GERGAWI
CEO of Dubai Holding &
Secretary General of Dubai Executive Council

FOR DUBAI SCHOOL OF GOVERNMENT

Dubai, 14th December, 2004

Thank you for being with us.

Today, we have a major initiative to announce.

Education is a critical driver for growth – and I am pleased to announce that
we are establishing the Dubai School of Government.

The Dubai School of Government is being set up in association with the one
of the world’s most prestigious institutes -- the John F. Kennedy School of
Government at Harvard University, famed as an institution of higher
learning and management.

The launch of this key initiative is under the directives of His Highness
General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of
Dubai and UAE Minister of Defence.

His Highness believes that leaders are the basis of the future of this nation
and it is our duty to develop their abilities and expertise so that we are
assured of establishing a corps of competent future leadership.

Benefits of the Dubai School of Government initiative will not be limited to
UAE alone. The institution will have important and strategic dimensions for
the region as a whole.

We chose the Kennedy School of Government at Harvard University as our
strategic partner as we want our school to be the leading institution tasked
with preparing leaders for the region.

The Kennedy School of Government is world leader and enjoys the highest
reputation for its leadership education and public sector training
programmes.
Our partnership will give Dubai School of Government programmes an
international standard, which would be recognized globally.

We are confident that the Dubai School of Government will establish itself
quickly as an active centre for development for public sector leaders in the
UAE and the region.
It will help enable them to play an important role in further boosting the
process of development in the region.

Besides its role in developing leaders, Dubai School of Government will
work on promoting new and active concepts in government management
through an extensive and aggressive programme that will be mapped out in
association with some of the best regional and international academics and
experts.

We are very pleased that the launch of Dubai School of Government
coincides with the prestigious Arab Strategy Forum that is currently going
on.

The Forum will shed light on the challenges facing the Arab world over the
next 15 years - and one of the most important of these challenges is the
development of human resources and the strengthening of the abilities of
potential young leaders, so that they are able to lead, reform and change
policies as is widely expected throughout the region.

There is no doubt that developing the abilities and knowledge of young
leaders is a key element, which has to receive the same importance that
some issues like battling terrorism and eradication of poverty are getting.

And, as His Highness assured in his opening speech at the Forum yesterday -
- the key element of development is human resources.
We are pleased that the Dubai School of Government will participate
actively in supporting the efforts of the countries of the region to develop
their human resources that would enable them to progress at a rapid pace.

Ends

MEDIA RELEASE

Date: 14th December, 2004

Embargo: Immediate

Peace can undermine entrenched autocratic systems,
says Ashrawi

Dubai -UAE: The onset of peace can destabilise entrenched autocratic systems in
Palestine, according to Hanan Ashrawi, Secretary General of the Palestinian Initiative for
the Promotion of Global Dialogue and Democracy (MIFTAH) and Member of the
Palestinian Parliament.

At a workshop on ‘Fundamentals of Political Reform: Shifts in Governance’, held on the
sidelines of the first day of the Arab Strategy Forum, Ashrawi said that conflict enables
autocratic systems to justify their rule and maintain status quo in the name of security.
Peace, she said, can undermine these systems and bring about more reform and
accountability.

The workshop addressed the main obstacles to reform in the Arab world and how these
obstacles can be overcome. It also discussed key reform-related issues that the Arab
countries should deal with by 2020 and the main approaches and pre-requisites for
successfully dealing with political and administrative reform in order to achieve
transparency.