Gulf Precast Breaks All-time Production Record

ABU DHABI, UAE, November 9, 2010 - Gulf Precast is a UAE leader in Precast Manufacturing, with 6
factories in the Abu Dhabi and Dubai Emirates. In October 2010, it recorded a
production of 25,772 M3 of precast concrete, its highest figure since 1984,
date of the company's creation.

This is a clear indication that, despite the economic crisis,
the UAE Construction Industry is increasingly opting for the Quality that
Precast solutions offer.

Like the rest of the UAE Construction Industry, Gulf Precast
was affected in the beginning of 2009 by the Crisis. Many of its projects got
cancelled, leading to a drop of three quarters of its production. By the end
of 2009, a number of projects started or restarted, mostly in the Abu Dhabi
Emirate. Following a new trend in the Real Estate market, Developers began
opting for Quality and Value-For-Money construction, and Precast
Manufacturing was therefore the logical option.

The strong reputation for Quality of Gulf Precast, which was
one of the first UAE construction companies to obtain ISO certification back
in 1997 and has won several governmental awards for Total Quality Management,
ensured that it was the option of choice for quality conscious Contractors.
Among others, Gulf Precast is performing a 2022 villas project in the Al
Falah area (handing over an average of 4 villas per day), 21 residential
buildings in Ruwais, a Boundary Wall of 187 kilometers, as well as several
hotels and schools.

Precast concrete is manufactured in a controlled factory
environment, under strict quality assurance and quality control. Concrete
elements are inspected and tested throughout the production process, and then
placed on trucks to be delivered to sites. There, the elements are assembled
to form walls, floors and roofs. Gulf Precast has performed prestigious
projects, such as the Dubai Mall or Al Wahda Mall in Abu Dhabi, Jumeirah
Beach Residence towers, Al Murooj Hotel, the Sorbonne University on Reem
Island, Zayed University, the Abu Dhabi airport Etihad terminal or the Dubai
airport tunnel.

Commenting on this success, Elias Seraphim, Chief Executive
Officer of Gulf Precast said; "The first companies that benefit from an
economic recovery, are those which can offer a competitive edge that attracts
demanding end users amongst an extensive choice. By focusing on Quality, Gulf
Precast participates in the UAE economy's revival wave."

    Contact details:

    Imad Issa
    imad@gulfprecast.ae
    +00971-25502044 ext201

Imad Issa, imad at gulfprecast.ae, +00971-25502044 ext201