Offer of Additional Shares

RNS Number:9663H
DP World Limited
19 November 2007


Before deciding to buy any shares you should (a) consult a financial adviser and
(b) ensure that you have read carefully the prospectus governing the offer. This
communication is not for distribution directly or indirectly in or into the
United States, Canada, Australia, Japan or any GCC country other than the UAE.



                   DUBAI WORLD INCREASES SIZE OF DP WORLD IPO


Dubai, 19 November 2007: - Dubai World Chairman Sultan Ahmed Bin Sulayem
announces that the size of the DP World initial public offering (IPO) is being
increased, due to strong demand from both institutional and UAE retail
investors.


The DP World IPO was originally proposed to include up to approximately 20
percent of the company's shares; this is now being increased to up to
approximately 23% percent. The total number of shares being offered will be
3,245.3 million plus a greenshoe(1) of 572.7 million, amounting to 3,818.0
million shares.


The shares are being offered by DP World's sole shareholder, Dubai World
subsidiary Port & Free Zone World (P&FZ World), at an indicative price range of
US$1.00 to 1.30.


Chairman of Dubai World and of DP World, Sultan Ahmed Bin Sulayem, said:

"We have seen strong demand both internationally from institutional investors
and in the UAE from retail investors for this unique investment opportunity. To
help meet that demand we have decided to increase the offering."


Final pricing and allocation is expected to be announced on or about 21
November. The selling shareholder reserves the right to allocate shares at its
sole discretion. The shares are expected to be listed on the Dubai International
Financial Exchange (DIFX) on 26 November.



                                      Ends





  Not for distribution, directly or indirectly, in or into the United States,
        Canada, Australia, Japan or any GCC country other than the UAE.



Background Notes for Editors

DP World is the fourth largest marine terminal operator in the world by capacity
and throughput. The Company is also one of the most geographically diversified
container terminal operators. Its network of terminals had, in their ongoing
business, a gross capacity of 48.6 million twenty-foot equivalent units (''TEUs
'') as of December 31, 2006. The Company generated gross throughput of 36.8
million TEUs and 20.3 million TEUs for the year ended December 31, 2006 and the
six months ended June 30, 2007, respectively.


DP World is a pure play marine terminal operator in the ports business focusing
its management and resources on the operation and development of ports around
the world under long-term concession arrangements.


DP World highlights include:

* a truly global portfolio of 42 terminals in 22 countries

* a significant bias towards handling the more stable and higher margin origin 
  and destination (import/export) cargo, with only around a quarter of current 
  volumes being transhipment cargo

* a pure play port operator with long term, stable business model

* the company is growing faster than the market; DP World volumes grew 
  approximately 18% in 2006 compared with market growth of approximately 11%

* strong growth has continued into the first half of 2007

* strong pipeline of new projects and expansions expected to nearly
  double capacity to around 90 million TEU (twenty-foot equivalent container
  units) in 10 years.


Financials

For the year ended December 31, 2006 and the six months ended June 30, 2007, DP
World generated Proforma Revenue from operations (not including revenue
attributable to its joint ventures and associates) of $2,076.0 million and
$1,209.0 million, respectively, and Proforma Adjusted EBITDA(2) of $705.3
million and $453.7 million, respectively.


Lead Managers

Deutsche Bank AG, Merrill Lynch International, Millennium Finance Corporation
and SHUAA Capital PSC are acting as Joint Global Co-ordinators and Joint Lead
Managers to the listing. The receiving banks for the UAE retail offer are
Mashreq Bank PSC, Emirates Bank, Abu Dhabi Commercial Bank and First Gulf Bank.
Mashreq Bank PSC is the lead receiving bank.





  Not for distribution, directly or indirectly, in or into the United States,
        Canada, Australia, Japan or any GCC country other than the UAE.



Enquiries:

DP World
Sarah Lockie, Head of Corporate Communications
Fiona Piper, Head of Investor Relations
Tel: [phone]


Bell Pottinger
Tom Mollo            Tel: [phone]
Elaine Boucher       Tel: [phone]


World View Communications
Sana Maadad
Tel: [phone]


Brunswick Group LLP
Jon Coles / Chris Blundell
Tel: [phone]


Deutsche Bank AG
Iain Macleod
Managing Director, Head of Infrastructure EMEA


Melanie Saluja
Managing Director, Equity Capital Markets
Tel: [phone]


Merrill Lynch International
Justin Anstee
Managing Director, Head of European Transport


Lorcan O'Shea
Director, Equity Capital Markets
Tel: [phone]


Millennium Finance Corporation
Alexandre Markarov
Managing Director, Investment Banking


Lachlan Davidson
Head of Legal
Tel:  [phone]


SHUAA Capital PSC
Salam Saadeh
Managing Director, Investment Banking Group
Tel: [phone]


Makram Kubeisy
Managing Director, Investment Banking Group
Tel: [phone]



This announcement has not been reviewed or approved by any regulatory authority,
including the UAE Central Bank, Emirates Securities and Commodities Authority
and/or the Dubai Financial Services Authority. The purchase of shares in a
company involves financial risk. Before deciding to buy any shares and/or if you
do not understand the contents of this announcement, you should (a) consult a
financial adviser and (b) ensure that you have read carefully the prospectus
governing the offer. This announcement and the information contained herein is
not an offer of securities for sale in the United States (including its
territories and possessions, any State of the United States and the District of
Columbia). The securities discussed herein have not been and will not be
registered under the US Securities Act of 1933, as amended (the "US Securities
Act"), and may not be offered or sold in the United States absent registration
or an exemption from registration under the US Securities Act. No public
offering of the securities discussed herein is being made in the United States
and the information contained herein does not constitute or form part of any
offer or solicitation to purchase or subscribe for securities in the United
States, Canada, Australia, Japan or any GCC country other than the UAE. This
announcement is not for distribution directly or indirectly in or into the
United States, Canada, Australia, Japan or any GCC country other than the UAE.
The shares will not be offered in any jurisdiction other than in compliance with
the applicable laws, rules and regulations governing the issue, offering and
sale of securities to the public. This announcement is only directed at (i)
persons who are outside the United Kingdom or (ii) investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order") or (iii) high net
worth entities, and other persons to whom it may lawfully be communicated,
falling within Article 49 (2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). The securities are only available to,
and any invitation, offer or agreement to subscribe, purchase of otherwise
acquire such securities will be engaged in only with, relevant persons. Any
person who is not a relevant person should not act or rely on this announcement
or any of its contents. Any offer of securities to the public that may be deemed
to be made pursuant to this announcement in any EEA Member State that has
implemented Directive 2003/71/EC (together with any applicable implementing
measures in any EEA Member State, the "Prospectus Directive") is only addressed
to qualified investors in that Member State within the meaning of the Prospectus
Directive.


This announcement includes forward-looking statements. The words ''anticipate'',
''believe'', ''expect'', ''plan'', ''intend'', ''targets'', ''aims'',
''estimate'', ''project'', ''will'', ''would'', ''may'', ''could'', ''continue''
and similar expressions are intended to identify forward-looking statements. All
statements other than statements of historical fact included in this
announcement, including, without limitation, those regarding our financial
position, business strategy, management plans and objectives for future
operations, are forward-looking statements. These forward-looking statements
involve known and unknown risks, uncertainties and other factors, which may
cause our actual results, performance or achievements, or industry results, to
be materially different from those expressed or implied by these forward-looking
statements. These forward-looking statements are based on numerous assumptions
regarding our present and future business strategies and the environment in
which we expect to operate in the future.


This announcement does not constitute a recommendation concerning the IPO. The
value of shares can go down as well as up. Past performance is not a guide to
future performance. Potential investors should consult a professional advisor as
to the suitability of the IPO for the individual concerned.


--------------------------

(1) An option granted by the company to its banking advisers to buy an
additional percentage of the IPO shares at the offering price for a period of 30
days after the offering. This option is also called the overallotment option and
is exercised when the IPO is oversubscribed and trading above its offer price.



(2) Adjusted EBITDA is defined as the sum of profit after tax from continuing
operations, plus finance costs (net of finance income), income tax, depreciation
and amortisation, further adjusted to remove the impact of separately
disclosable items.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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