Grand Opening of Aldar's Ferrari World Abu Dhabi

ABU DHABI, UAE, December 1, 2010 - HH Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince
and Deputy Supreme Commander of the UAE Armed Forces, last night officially
inaugurated Ferrari World Abu Dhabi, the world's first Ferrari theme park, on
Yas Island.

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HH Sheikh Mohammed paid tribute to the vision of President His
Highness Sheikh Khalifa bin Zayed Al Nahyan, "Who is keen on turning the UAE
into a global magnet of sports and recreational tourism through a diverse
portfolio of projects that will have substantial impact on the national
economy and social development."

"The ambitious development projects in progress in Abu Dhabi
will help position the Emirate prominently on the global map as a sought
after tourist destination. Ferrari World Abu Dhabi is a quality addition to
our tourism industry which is one of the pillars of our national economy,"
Sheikh Mohammed said.

Hosted by Aldar Properties and Ferrari SpA, 2000 VIP guests
were present for the opening ceremony and private viewing of Ferrari World
Abu Dhabi.

In the presence of HH Sheikh Mohammed bin Zayed Al Nahyan,
guests including Mr Franco Frattini, Italian Foreign Minister; Giorgio
Starace, Italian Ambassador to the UAE; Mr Luca di Montezemolo, Chairman of
Ferrari; and Ferrari Formula 1 team drivers Fernando Alonso and Felipe Massa
were treated to a spectacular show to celebrate the achievement of Aldar and
Ferrari in delivering the world's largest indoor theme park, home to Formula
Rossa, the world's fastest roller coaster.

The show - titled Power meets Elegance - blended the stories
of Abu Dhabi and Ferrari through an incredible mix of live action,
acrobatics, advanced film projection techniques and original music.

Ahmed Al Sayegh, Chairman of Aldar Properties:

"Aldar's work with Ferrari was a meeting of minds with a clear
vision to create an experience that is unique, fun and inspirational. We are
extremely proud at Aldar to be able to contribute to this vision."

Luca di Montezemolo, Chairman of Ferrari:

"I would like to thank all those who made this dream a
reality, and in particular our partners and the leadership of Abu Dhabi. We
are very proud of our partners Aldar who share with Ferrari the same passion,
the same vision, the same will to go beyond."

Video:
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For more information, please contact: Mona Zayati, Tel: +971-2-696-4729, Mob: +971-050-4108400, Email: mzayati at aldar.com