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Depa wins AED207 million fit-out contract for Conrad Hotel in Dubai

Depa will fit out all guest rooms and public areas within the hotel, which is set to open in mid 2011

Dubai, 30 September 2009 - Depa Limited (ticker DEPA) ('Depa' or 'the Company'), one of the world's leading interior contracting companies, today announces that it has secured a AED207 million contract to fit out all guest rooms, suites and public areas in the Conrad Hotel Dubai, set for completion in mid 2011. 

Mohannad Sweid, Chief Executive Officer, Depa Limited commented:

'This contract win further strengthens our backlog position and Depa continues to be on target in terms of profit and revenue growth for 2009. This is driven by our consistent market leading position and due to the fact that we are invariably the preferred bidder for these types of major developments and projects due to unrivalled experience and track record of delivering prestigious works on time and within budget to the highest standards.'

Nadim Akhrass, Managing Director of Operations, Depa Dubai said:

'Despite the difficult wider economic environment, there are still high-end projects. Depa has unparalleled experience in hotel fit-outs in the UAE having worked on some of the most iconic hotels including Burj Al-Arab, Emirates Palace and Atlantis the Palm. This is yet another exciting project to be undertaking and we are looking forward to working closely with all parties involved.'

Depa's full scope of work on the luxury Conrad Hotel is the complete fit out of all 500 guest rooms and suites and the public areas including lobbies, executive lounges, two ballrooms, 11 meeting rooms and a business centre. Depa was appointed by M/s Private Property Management Company.

The Conrad Dubai will be strategically located on Sheikh Zayed Road, just 20 minutes from the Dubai International Airport and close to the Dubai World Trade Centre, International Convention Centre, Dubai International Financial Centre and the Dubai Metro System Station.

For further inquiries, please contact:

Depa Limited

Noor Sweid

Managing Director, Strategy

Tel: +971 4 224 3800

noor.sweid@depa.com

Brunswick Gulf Ltd

Azadeh Varzi

avarzi@brunswickgroup.com 

Tel: + 971 4 365 8260

About Depa Limited 

Depa Limited is a leading interior contracting company in the Middle East, North Africa and Southeast Asia regions. Operating principally in the luxury fit-out industry, its main areas of business cover luxury hotels, infrastructure and public sector amenities such as hospitals and airports, high-end residential properties, retail outlets, as well as yachts. Depa is listed on the NASDAQ Dubai (ticker DEPA) and has Global Depositary Receipts on the regulated market for listed securities of the London Stock Exchange plc (ticker DEPA and DEPS).

The range of business activities performed by Depa comprises: 

• Interior contracting: which focuses on luxury interior fit-out services, which include installation and finishing of floors, walls, ceilings, fixed joinery, panelling, wood-works, doors and frames;

• Manufacturing: which comprises a network of factories and joineries which produce customized furniture, fixtures and equipment (FF&E);

• Procurement: which involves the procurement of supplies and materials from third parties to support and complement Depa's interior contracting and manufacturing operations as well as third party procurement contracts for specific FF&E projects. 

By integrating these services into a single package, Depa provides clients with comprehensive and customized interior contracting solutions. 

With more than 8,000 employees worldwide, the company operates through an integrated network of subsidiaries, affiliates and representative offices located in the UAE, Saudi Arabia, Qatar, Egypt, Jordan, Syria, Libya, Morocco, India, Malaysia, Thailand, China, Singapore, UK, the Netherlands, and the United States. Through this network, Depa has successfully executed large and complex projects in over 16 countries including the Burj Al Arab Hotel (Dubai), Emirates Palace (Abu Dhabi), the Museum of Islamic Art (Doha), Four Seasons Hotels (Sharm El Sheikh & Mumbai) and Mazagan Resort (Casablanca).

For more information, please refer to the corporate website: www.depa.com 

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