Reference to the above mentioned subject & CMA regulations #( ه.أ.م/ق.ر./إ.م/2/2012) on disclosure of material information and mechanism for announcement (dealing with rumors and news), and in commentary to the news published on Al Qabas newspaper dated 30/07/2015 – no. 15144, Economic section, page 23, regarding the payment of 11.2 million USD by National Investments Company representing the first installment of the entire liability due to Munshaat Real Estate Investments Company.

We would like to inform you that the published news in the abovementioned newspaper is contrary to reality, the correct news is:

Munshaat Real Estate Investments Company has, on 28/07/2015, repaid a portion of its liability for an amount of 11,250,000 USD as a first payment of its entire liability due to NIC, the remaining installments will be repaid on quarterly basis ending 30/09/2016, as mentioned in our declaration dated 29/07/2015 ref. no. (25-3/3199).

Furthermore, kindly note that Al Qabas newspaper has published a correction and an apology for the abovementioned news on Friday 31/07/2015.