DAMAC Holding Pledges Support to Higher Education

Dubai – June 2005 – DAMAC Holding has pledged its support to Higher Education by setting up a scholarship program at the American University of Dubai.

As part of DAMAC Holding’s Corporate Citizen Program and it’s commitment to social responsibility, the company has decided to focus on investing in the young leaders of the future by offering a scholarship program at the American University of Dubai.

Under the DAMAC Holding scholarship program, full scholarships will be available to students within the UAE who have excelled academically during their secondary education and will enable them to pursue a course in Higher Education, in a degree of their choice.

"Speaking from personal experience, I know that it is not easy to achieve your dreams. It requires a lot of hard work and dedication. As such, we at DAMAC Holding would like to give the opportunity to bright, talented students of the UAE to prove themselves and assist them in reaching their academic goals to contribute to vision of Dubai", said Mr. Hussain Sajwani, Chairman of the newly launched DAMAC Holding.

Mr. Sajwani continues, "We have decided to offer this scholarship program at the American University of Dubai based on its excellent reputation as the leading educational institutions in the UAE. Over the years, AUD has become a landmark of Dubai and an outstanding example of the role that education plays in the ongoing development of the UAE."

Students in their final year of high school can apply directly to the DAMAC Scholarship Program at the premises of the American University of Dubai where they will be provided with all of the information they need. Details of the selection process will be announced in the near future.

DAMAC Holding ranks among the largest regional business groups, while operating in 16 countries and having a portfolio of more than 5000 employees. Over the last 23 years, the DAMAC Group has grown and evolved from a local catering company to an international conglomerate whose activities encompass property development, insurance, manufacturing, education, securities, investment and commercial trading.