Wind Virtual World

* Emaar reports record profits of AED 1.517 billion for 1st Quarter.

Property developer, Emaar Properties PJSC, today announced record results for its first quarter 2006. Net
profit for the first quarter 2006 reached AED 1.517 billion - an impressive 14 per cent rise on the AED 1.325
billion for the equivalent period of 2005.

During the first quarter 2006, the company reported a 4 per cent rise in gross profit to AED 1.487 billion
compared to AED 1.435 billion despite the decline in revenue of 21 per cent to AED 2.239 billion compared to
AED 2.837 billion achieved during the same period last year. Annualized Earnings per Share (EPS) for the period
is AED 1.04 compared to the actual EPS of AED 0.85 for 2005.

In January this year, the company announced record annual profits of AED 4.731 billion for the year ended
December 31, 2005. This corresponded to a net profit increase of 180 per cent for 2005. In March 2006,
following the Annual General Meeting (AGM), Emaar also paid out 40 per cent cash dividends to shareholders
amounting to AED 2.4 billion which was distributed in the same month.

Emaar's quarterly profits had crossed over the billion dirham mark since first quarter of 2005 and the company
continues to exceed its profitability for this quarter in comparison to first quarter of 2005. Overall, sales for
both residential units and land plots continue to remain strong in Dubai.

This quarter's outstanding performance also mirrors the phenomenal growth of the company which has witnessed ambitious ventures into new markets, a consolidation of its presence in North Africa and groundbreaking expansion into the fields of
education and healthcare.

Taken from www.zawya.com