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Aldar Properties holds AGM

"We close 2007 with a strong set of financial results, combined with concrete sales figures and the successful handover of our first phase of projects," commented Chairman.

"Positive feedback was received from the Board, and shareholders in attendance, and we look forward to continuing our positive growth and development throughout 2008."

During the Annual General Meeting, the Board of Directors' report, auditor's report, budget, and profit and loss account were approved. Members of the Board of Directors and the Auditors were acquitted from liability for the fiscal year and wages to be paid to the members of the Board of Directors were approved.

A decision to go ahead with a dividend of 10 fils per share was taken. Deloitte & Touche (M.E.) were appointed as auditors for 2008 and their fees were set.

At the close of the meeting, the election of the members of the Board of Directors for the coming three years as per the company's articles of association was carried out.

The Board of Directors are: 1- Ahmed Ali Al Sayegh, Chairman, 2- Nasser Ahmed Al Sowaidi, 3- Khaldoon Khalifa Al Mubarak, 4- Khadem Abdulla Al Kubaisi, 5-Sultan Al Jaber, 6- Khalifa Sultan Al Sowaidi, 7-Ali Al Muhairi, 8- Ibrahim Lary, 9- Ronald Barrott.