Clifford Chance Advises on the Establishment of TDIC's $1,450,000,000 Trust Certificate Issuance Programme and Inaugural Issuance

Clifford Chance has advised Tourism Development & Investment Company P.J.S.C. "TDIC" in relation to its $1,450,000,000 Sukuk Trust Certificate Issuance Programme, which was established on 1 October 2009.

Capital Markets: The capital markets practice comprises over 422 partners and lawyers who concentrate on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centres. The combination of local knowledge with an international perspective enables us to provide practical, integrated legal advice covering the full spectrum of global capital raising activities including public and private domestic and international offerings of traditional debt and equity securities as well as convertible and other derivative and structured securities.

The Middle East Capital Markets practice has been ranked Band 1 by Chambers Global 2009 and Tier 1 by IFLR1000 and Legal 500 in its 2009 rankings. Chambers commented, "innovative products on the debt and equity front distinguish this firm, as does its tremendous global reputation." IFLR 1000 commented, "Clifford Chance's Middle East capital markets team is universally praised for its quality, breadth and length of service..."Our clients include issuers, originators, arrangers, managers, investors and other finance providers, trustees, rating agencies, monoline insurers and swap counterparties from a variety of industries including energy, transport, infrastructure projects, and real estate.

2. Clifford Chance is one of the world's leading law firms, helping clients achieve their goals by combining the highest global standards with local expertise. The firm has unrivalled scale and depth of legal resources across the four key markets of the Americas, Asia, Europe and the Middle East, and focuses on the core areas of commercial activity: capital markets; corporate and M & A; finance and banking; real estate; tax; pensions and employment; litigation and dispute resolution. Clifford Chance has 29 offices in 20 countries with 3,600 legal advisers and also operates a 'best friends' arrangement with AZB & Partners in India and with Lakatos, Koves & Partners in Hungary, and a co-operation agreement with Al- Jadaan & Partners Law Firm in Saudi Arabia.

3. Clifford Chance was ranked 'tier one' in more international tables than any other firm in the Chambers Global 2009 Directory. This independent analysis focuses on firms' legal ability, professional conduct, client service, and commercial awareness, and these rankings provide outstanding recognition for the Firm's breadth of expertise and consistency of quality across global markets. 4. Clifford Chance was named 'Most Innovative Law Firm' in the 2008 Financial Times Innovative Lawyers Awards, an in-depth Europe-wide analysis of innovation in law firms in areas from legal expertise to client service, marketing, environment and technology.

For further information about this release contact Melanie Carruthers on +971 4 362 0623

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