The Ukrainian newspaper “Kyiv Post” and other local Internet websites in Ukraine, quoting from the said newspaper and from other sources, have recently published press releases linking Saeed and Mohammed Al Naboodah Group to a mega real estate investment of USD$2 billions in a tourism and sport complex in Crimea, Ukraine.

In this respect, Saeed and Mohammed Al Naboodah Group hereby confirms that the said press release is absolutely incorrect and contains misleading and unsubstantiated information that have been officially refuted and apologized for by the same newspaper “Kyiv Post” in the issued publication thereof dated May 31 st , 2007.

In view of the forgoing, Saeed and Mohammed Al Naboodah Group hereby confirms that it is not currently raising any investments in Ukraine or in any of East-Europe countries and hereby requests entire businessmen and competent authorities in the said countries, to investigate correctness of such information and to ascertain the sources thereof so as to avoid any losses or damages which might be incurred as a result of the same, and to avert any legal liability from the illegal usage thereof.

In this regard, Saeed and Mohammed Al Naboodah Group warns whomever being self-tempted, whether a natural, organizational or corporate person, to deal in its name or in the name of Saeed and Mohammed Al Naboodah Group or any of its subsidiaries , whether inside UAE or abroad by using its name or logo, or by making reference to any of its accomplished businesses, works or projects since its establishment or by any other mean to create any connection thereto for the purpose of misleading and/or achieving any personal financial or moral benefits.

Moreover, Saeed and Mohammed Al Naboodah Group hereby further declares that it has initiated all the necessary legal actions to preserve and maintain its rights against whomever violates the said rights in the aforesaid manners.