- Focused training programs on management and business studies
- GE to design educational program, provide key speakers

Mubadala Development Company, the wholly owned investment vehicle of the government of the Emirate of Abu Dhabi, has joined hands with global technology, media and financial services company General Electric (GE) to initiate an executive learning center in the capital city focused on providing advanced management and business leadership programs to professionals in the UAE and the GCC.

Commencing in January 2007, the initiative’s first program will be focused on attendees from the UAE. The candidate base will eventually be extended to the greater GCC area. Mubadala and GE have played to their own strengths in developing the training center. Mubadala will build the legal and physical infrastructure and use its extensive corporate network to hand-pick potential candidates for the conduct of the project while GE, based on its global expertise in sustaining a dynamic professional workforce, will design the programs and provide training and moderation.

“Focused management and business training undertaken by executives can bring about a radical transformation to the fortunes of any company,” said HE Khaldoon Khalifa Al Mubarak, CEO & Managing Director of Mubadala Development. “This learning initiative is aligned with Mubadala’s core vision of generating sustainable economic benefits to the society through strategic investments - not only in utilities, energy and real estate but also in educational partnerships. With its topnotch professional workforce, GE is an ideal partner in this initiative.”

The training program, held twice a year, will be two-tier and focused on executive leaders and young leaders. Strategic thinking, operational excellence and actively engaging case studies form the crux of the Executive Leadership program. The Emerging Leader course content comprises team development, psychological personality identification, situational leadership studies, and financial basics, action planning and business simulation.

“In today’s competitive business environment, it is crucial that the executive workforce is proactive and geared to meet the challenges of the future,” said Nabil Habayeb, GE’s President and CEO for the Middle East and Africa region. “This can be accomplished only through focused training and sharing of expertise and knowledge - which form the core of GE’s corporate citizenship program. Sharing GE’s best practices with the executives of Abu Dhabi and the region is a community-centric initiative that fosters our ties with the country we serve in. The programs will also help create a wider understanding among business leaders on the GE way of doing business.”

GE had earlier partnered with Mubadala Development to conduct a CEO Program in 2005. More than ten high-profile executives attended the one-week program held in GE Crotonville. “The CEO session dealt extensively on leadership and management and was a resounding success, which serves as our encouragement to undertake this new initiative by designing the program, providing updates and materials to implement it and offer training and moderation support,” said Mr Habayeb.

“The Abu Dhabi government has identified education, particularly management training, as key growth vehicles in the transformation of the country. With this initiative, the emirate strives to evolve as a key learning hub for executive training in the region and through the Emerging Leader Program; we are investing in future leaders - who will steer the prospects of the economy for the long-term.”

GE maintains a long-established and highly successful corporate citizenship program with components in knowledge-sharing, compliance and governance, human rights, health, safety and environment, supply chain, employee relations and community work.

About GE:

GE (NYSE: GE) is Imagination at Work — a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company’s web site at http://www.ge.com.

About Mubadala:

Mubadala Development is a Public Joint Stock company, established and wholly owned by the Government of the Emirate Abu Dhabi. Its mission is to invest in commercially-viable, strategic, industrial and commercial partnerships.

The company manages a diversified portfolio of local, regional, and international investments. International investments include the Dutch fleet management giant LeasePlan Corporation (25% stake), and a stake in nine oil exploration blocks in Libya. Stakes are also held in the Swiss aircraft and engine services provider SR Technics (40%), the Italian luxury car manufacturer Ferrari (5%), and Piaggio Aero Industries (35%)

In the United Arab Emirates and wider Gulf region, Mubadala Development has invested in, and developed, a number of leading projects including the first GCC cross-border natural gas project, Dolphin Energy (51% majority stake), Aldar Properties, National Central Cooling Company, Abu Dhabi Ship Building, Imperial College London Diabetes Center in Abu Dhabi, Injazat Data Systems, and the Mukhaizna Oil Field developments in Oman.

Mubadala Development signed a joint development agreement with Dubai Aluminum Company (DUBAL) to develop, construct, own and operate a USD6-billion world class green-field aluminium smelter complex with 1.2-million tone capacity a year at the Khalifa Port and Industrial Zone in Abu Dhabi.

Mubadala Development is also leading the development of the UAE University’s new campus in Al Ain City through a public-private partnership initiative.

Mubadala Development also prides itself on the creation of numerous strategic alliances and associated projects. Current alliance partners include Dubai Aluminum Company (DUBAL), Rolls-Royce, and Shell. For more information, visit http://www.mubadala.ae.

For further information, please contact:

Rania Rostom Kelly Home / Nivine William
Communications Manager ASDA’A Public Relations
GE Middle East & Africa Exclusive Affiliate of Edelman PR Worldwide
Tel: (+971 4) 313 1807 in Middle East and North Africa
Fax: (+971 4) 313 1907 Tel: (+971 4) 335 5969
Email: k.home@asdaa.com / n.william@asdaa.com

Abdulla Khouri
Senior Communications Manager
Mubadala Development
Tel: (+971 2) 616 0100
Fax: (+971 2) 616 0098
Email: akhouri@mubadala.ae