DIFX names directors

Source: Dubai International Financial Exchange

Dubai International Financial Exchange Ltd ("DIFX") yesterday announced the composition of its Board of Directors following the completion of the transaction among DIFX, Borse Dubai Ltd and The Nasdaq Stock Market, Inc. ("NASDAQ"), which resulted in The NASDAQ OMX Group, Inc. (NASDAQ OMX Group) acquiring a 33.3 percent stake in the DIFX.

The two new DIFX Board members are Robert Greifeld, Chief Executive Officer of NASDAQ OMX Group and Adena T. Friedman, Executive Vice President, Corporate Strategy of NASDAQ OMX Group. Mr. Greifeld will serve as Vice Chairman of the DIFX and as a member of the DIFX's Nomination and Remuneration Committee. Ms. Friedman will serve as a member of the DIFX's Market Oversight Committee.

The rest of the DIFX Board membership remains unchanged and comprises: Soud Ba'alawi (Chairman), Per E. Larsson (Chief Executive Officer), Maha Al-Ghunaim, Bisher Barazi, Mohamed Binbrek, Essa Kazim, Gerald Lawless, George Möller and Shadi Sanbar.

Mr. Ba'alawi and Mr. Kazim will serve on the newly formed NASDAQ OMX Group Board.

Biographical details of the DIFX Board members are highlighted below.


Robert Greifeld
Chief Executive Officer
The NASDAQ OMX Group, Inc.

Mr. Greifeld is the Chief Executive Officer of The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ), the world's largest exchange company. Greifeld has a 20-year history in technology, and as an entrepreneur created one of the first electronic stock order matching systems. Today he leads the world's largest exchange company which delivers trading, exchange technology and public company services across six continents. With over 3,900 companies, it is number one in worldwide listings among major markets. Under Greifeld's leadership, the growth of The Nasdaq Stock Market has been impressive, with 13 consecutive quarters of top line growth. The year 2007 was NASDAQ's most successful since it began reporting financials in 1997, and in 2005, NASDAQ's stock was the number one performer across all markets. Greifeld has been a strong advocate of modernizing stock markets to improve trading quality and performance for the benefit of companies and investors. While serving as President and Chief Operating Officer of Automated Securities Clearance, Inc. Greifeld led the team that created BRASS and made it the industry standard trade order management system for NASDAQ stocks. Greifeld holds a Masters in Business from New York University, Stern School of Business and a B.A. in English from Iona College. Greifeld is Chairman of the USA Track & Field Foundation. He is a member of the Partnership for New York City, an organization devoted to enhancing the local economy.

Adena T. Friedman
Executive Vice President, Corporate Strategy
The NASDAQ OMX Group, Inc.

Ms. Friedman is Executive Vice President of Corporate Strategy for The NASDAQ OMX Group, Inc. Her responsibilities include identifying and developing strategic opportunities, including mergers and acquisitions for the world's largest exchange company. Ms. Friedman also oversees a key business unit, Global Data Products, which is focused on global dissemination of information and product development surrounding the quoting and trading of NASDAQ securities. Ms. Friedman was instrumental in directing NASDAQ's May 2007 offer for Nordic exchange operator and technology provider, OMX Group. In 2006, in addition to NASDAQ's majority stake building in the London Stock Exchange, she oversaw the arrangement of several working agreements between NASDAQ and other exchanges including JASDAQ (Japan), and the Korea Exchange (KRX). Ms. Friedman joined NASDAQ in 1993, where she has served in several roles, including marketing manager and product manager for NASDAQ's trading services and web applications. She subsequently served as Senior Vice President and Executive Vice President of NASDAQ Data Products prior to her current role. Ms. Friedman earned an MBA, with honors, from Owen Graduate School of Management, Vanderbilt University, in Nashville, USA. She also holds a BA in Political Science from Williams College in Massachusetts, USA.


Soud Ba'alawi
Chairman (Non-Executive)

Mr Ba'alawi is the Executive Chairman of Dubai Group, the leading diversified financial company of Dubai Holding with a focus on banking, investments and insurance, both at a regional and global level. Mr Ba'alawi has overseen the growth of Dubai Group and its local office network that spans from New York through London to Kuala Lumpur and Hong Kong. Mr Ba'alawi was previously Chief Executive Officer of Dubai Investment Group and played a key role in its foundation and growth. He is also Vice Chairman of Borse Dubai, a holding company that wholly owns the DIFX. He has more than ten years experience in banking and investment with Citigroup, and was the Vice President of Gulf Treasury in Citibank Dubai. He has also served as Chief Investment Officer of Dubai Internet City and Vice President of The Executive Office. Mr Ba'alawi's other board membership and affiliations include: Executive Committee Member, Dubai Holding; Chairman, Marfin Popular Bank; Chairman and Board Member of Executive Committee, Noor Islamic Bank; Chairman, Taib Bank; Vice Chairman of Marfin Investment Group; Vice Chairman and Board Member, Dubai Bank; Board Member, Dubai Financial Market; Board Member, du; Chairman, Manzil, a non-profit centre for persons with special needs. A UAE National, Mr Ba'alawi is a member of the Chartered Institute of Management Accountants, UK.

Per E. Larsson
Chief Executive Officer

Mr Larsson became Chief Executive in July 2006. In August 2007 he was also appointed Chief Executive of Borse Dubai, a holding company that wholly owns the DIFX. Mr Larsson was President and Chief Executive of the Sweden-based OMX (the former OM Group and owner and operator of several Nordic and Baltic exchanges and clearing houses) from 1996-2003. In his 18-year career at OMX, Mr Larsson served earlier as Chief Operating Officer of the OM Group and as President of OM Stockholm, its derivatives arm. As Chief Executive he led the successful acquisition of the Stockholm Stock Exchange where he became Chairman of the Board in 1998. As a director of the Finnish Options Market (SOM) he was actively involved in the successful acquisition of the Helsinki Stock Exchange (HAP) to form HEX (Helsinki Exchanges). Before leaving OMX in 2003, he finalised OMX's acquisition of HEX. Mr Larsson has served as Chairman of OMLX, a Recognized Investment Exchange in the UK which was founded by OMX in 1989. He has also been a Director of VPC (the Swedish Central Securities Depositary) and a Director of OTOB (the Austrian Options and Futures Exchange).

Maha Al-Ghunaim
Chairperson and Managing Director
Global Investment House

Mrs Al-Ghunaim co-founded Global Investment House in Kuwait in 1998 and is currently the Chairperson and Managing Director. Previously she was Assistant General Manager of the asset management arm of Kuwait Investment Company. She is also Chairperson of Global Bahrain, a Board Member of the National Industries Group (NIG) in Kuwait and of BankMuscat International (Bahrain), Board Member of Barings Private Equity Asia Ltd (Hong Kong), Board Member of Kinan International Real Estate Development Company (Spin of Savola Group) (KSA), Vice Chairman of

Shurooq Investment Services Co (Oman), and a Member of DEPA United Group in the UAE. In 2007 she was included in Forbes International Magazine's "The Top 100 Women in the World" in which she was ranked as the first woman in the Arab world.

Bisher Barazi
Managing Director
DIFC Investments

In August, 2007, Mr Barazi was appointed Managing Director of DIFC Investments, the investment arm of DIFC. DIFC Investments' objective is to develop the infrastructure of the Dubai International Financial Centre and ensure its financial sustainability. Previously, he spent more than two years as Chief Financial Officer of the DIFC Authority, and prior to this as the Financial Controller of the Technology and Media Free Zone (TECOM). During his public practice career, he managed audit, consulting and corporate finance assignments in several industries, including oil & gas, financial services, telecom and media, hospitality and leisure and public utilities. Mr Barazi is Chairman of a number of local and international companies including SmartStream Technologies and Unicontrol Commodity Finance. He is also a Board member of Abraaj Capital and is an Investment Committee Member of Dubai Aerospace Enterprise, and Global Strategic Equities Fund. He started his financial career with Arthur Andersen in Syria and then in Saudi Arabia before being appointed by Deloitte & Touche Kuwait as Head of its Enterprise Risk Services practice.

Mohamed Binbrek
Chief Executive
Dubai Properties

Mr Binbrek joined Dubai Properties, the real estate arm of Dubai Holding, in 2002 and served as Chief Operating Officer and later Chief Officer - Administration & Portfolio Management before becoming Chief Executive in December 2006. Previously he worked for 14 years at Citibank in the UAE where he managed daily operations and business development for the Consumer Bank, as well as serving as Service Quality Director, Director of Access Channels and Head of Investments and Distribution. Mr Binbrek started his professional career with ABN Bank in the UAE and spent five years in the Corporate Bank as a Relationship Manager as well as in the Operations area.

H. E. Essa Kazim
Chairman, Dubai Financial Market
Chairman, Borse Dubai

Mr Kazim is the Chairman of the Dubai Financial Market (DFM), a secondary market established in March 2000 for the trading of securities, bonds, units of investment funds and other financial instruments. He is Chairman of Borse Dubai, the holding company that owns the DIFX and DFM, and a member of the DIFC Authority Board. He is the Chairman of Dubai Statistics Centre, a Board Member of the General Pension & Social Security Authority, a Member of the Dubai Council for Economic Affairs and a Board Member of Noor Islamic Bank. Mr Kazim was previously Director of the Planning and Development Division for the Department of Economic Development and Senior Analyst in the Research and Statistics Department at the UAE Central Bank.

Gerald Lawless
Executive Chairman, Jumeirah Group

Mr Lawless joined Jumeirah in June 1997 as Managing Director. Earlier he spent 23 years working with Forte Hotels including in the United Kingdom, South Africa, Ireland and Dubai. He was also responsible for the Caribbean and later the Middle East region. Mr Lawless oversaw the development of Forte Hotels in the region from three properties in 1991 to more than 20 when he left in 1997 to join Jumeirah, where he oversaw the opening of Jumeirah Beach Hotel, Wild Wadi Water Park and Burj Al Arab. Since then, Mr Lawless has overseen the expansion of Jumeirah Group's regional and international portfolio.

George Möller
Chief Executive Officer, Robeco Groep NV

Mr Möller is Chief Executive Officer of Robeco Groep NV, an international asset manager which is wholly owned by Rabobank. He is a former member of the Managing Board and Chief Operating Officer of Euronext NV and was the President of the Federation of European Securities Exchanges. He was General Manager of the European Options Exchange and following its merger with the Amsterdam Stock Exchange became Chief Executive (President) of Amsterdam Exchanges NV. Mr Möller was also a director of LIFFE plc from 1992-1996 and its Deputy Chairman from 2002-2004.

Shadi Sanbar
Chief Financial Officer, Kingdom Holding Company

Mr Sanbar is Chief Financial Officer of Kingdom Holding Company, a Saudi joint stock company listed on the Saudi Stock Exchange. Kingdom is a global investor with interests in international and regional equities, hotels, real estate, and private equity investments. Until 2005, Mr Sanbar was with Ernst & Young, specialising in audits and special examinations. He started his career with the Los Angeles office of Arthur Andersen in 1973 and in 1994, following his transfer to Riyadh, he was appointed Managing Partner for Andersen's Assurance and Business Advisory practice for all of the Middle East office.

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